Sale of 99 Taxi reveals the quality of Brazilian startups

China is currently one of the most voracious business-hunting for investment. Brazil, in turn, has created more and more favorable conditions for the development of startups - despite the political crisis and economy of recent years. Proof of this is the acquisition of the 99 Taxi by the Chinese company DiDi Chuxing for the value of 960 million dollars and valued at 1 billion Dollars, according to the column of the journalist Lauro Jardim, in the newspaper O Globo.

The deal makes the 99 Taxi, the first Brazilian unicorn, that is, a startup worth more than 1 billion dollars. DiDi Chuxing had already acquired a minority stake in the company for about $ 100 million. However, the Chinese company was not alone, the 99 had already received investments from the Monashees, Tiger Global and Qualcomm Ventures funds. Now, DiDi has acquired control of the Brazilian company.

In August last year, DiDi acquired control of Uber's Chinese operation. In December, the Chinese received a $ 4 billion investment from the Japanese company Softbank and Mubadala, the state-owned Abu Dhabi fund. Softbank itself made a major investment in Uber with the purchase of a 17.5% stake. Transportation is one of the major bottlenecks of the urban road and promises to receive more and more investments.