99

99 is a Brazilian vehicle-for-hire platform that began operations in São Paulo in 2012 and later expanded to other parts of the country. The company was founded by Paulo Veras, Renato Freitas, and Ariel Lambrecht. It was initially associated with the name 99Taxis, reflecting its early focus on connecting passengers with taxi services through a mobile application, and subsequently became known primarily as 99. The business operates as a technology intermediary between passengers and drivers or other vehicle-for-hire providers. Its core proposition is app-based mobility: users request transportation, while drivers receive trip opportunities and digital tools for managing rides. The available reference material identifies the company as operating in Brazil but does not provide a complete current breakdown of cities, service categories, pricing, fleet composition, or operational metrics. 99 became a significant participant in Brazil's rapidly developing app-based transportation market. In January 2017, DiDi provided funding to the company. The investment supported additional hiring and strengthened 99's ability to compete in the local market. In May 2017, a further investment round led by SoftBank raised US$100 million. These funding events marked an important stage in the company's expansion and competitive development. On January 3, 2018, DiDi acquired the remaining ownership of 99 for an undisclosed amount. Public reports cited by the reference material placed the rumored transaction value at approximately US$600 million, but that figure was not officially disclosed and is therefore not treated here as a confirmed financial fact. Following the transaction, 99 became part of DiDi's international mobility group. The acquisition was widely associated with 99 becoming Brazil's first startup commonly described as a unicorn, meaning a private startup valued at more than US$1 billion. Today, 99 remains a Brazil-focused mobility brand within the DiDi group. Its identity is tied to digital transportation booking and vehicle-for-hire services rather than express logistics, despite the original input taxonomy placing it in that category. The supplied sources do not establish a separate logistics business, a public listing, current senior executives, or a detailed portfolio of products beyond the transportation application and its earlier taxi-oriented identity.

99 was launched in 2012 in São Paulo, Brazil, by Paulo Veras, Renato Freitas, and Ariel Lambrecht. The company entered the market as a technology-enabled vehicle-for-hire service and was formerly known as 99Taxis, a name that emphasized its original taxi-booking orientation. From its initial São Paulo operation, the company expanded into other Brazilian regions, although the supplied reference does not specify the full sequence of cities or the dates of each regional launch. The company developed during a period in which smartphone applications were changing how passengers located and requested transportation in Brazil. Its model connected passengers and drivers through an application, creating a digital layer for vehicle-for-hire transactions. The available material does not provide verified details about commission structures, driver numbers, passenger numbers, revenue, or the precise range of services offered at each stage of its development. In January 2017, 99 received investment from DiDi. The funding helped the company create additional positions and respond to competition. In May of the same year, 99 completed another financing round led by SoftBank, raising US$100 million. Together, these investments gave the company additional resources during a period of market expansion and intensifying competition among app-based transportation services. On January 3, 2018, DiDi acquired the rest of 99. The purchase price was not disclosed. A roughly US$600 million figure was reported as a rumor rather than a confirmed transaction value, so it should not be treated as an official financial figure. The deal made 99 part of DiDi's international mobility portfolio and was associated with the company being regarded as Brazil's first unicorn startup, or a private startup valued at more than US$1 billion. The brand continues to operate in Brazil under DiDi ownership. Its documented historical development is therefore characterized by four main stages: founding and launch in São Paulo, expansion to other Brazilian regions, investment-backed growth in 2017, and integration into DiDi following the 2018 acquisition. Beyond those milestones, the supplied sources do not support a more detailed account of corporate reorganizations, leadership changes, product launches, campaigns, regulatory disputes, or current operating metrics.

1. 2018DiDi completes acquisition

   On January 3, DiDi acquired the remaining ownership of 99 for an undisclosed amount, bringing the company into the DiDi group.

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2. 2017DiDi investment

   DiDi provided funding to 99 in January, supporting hiring and the company's competitive expansion.

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3. 2017SoftBank-led financing

   A financing round led by SoftBank raised US$100 million for 99 in May.

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4. 2012Launch in São Paulo

   99 was launched in São Paulo as a technology-enabled vehicle-for-hire company founded by Paulo Veras, Renato Freitas, and Ariel Lambrecht.

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A Brazil-focused digital mobility platform connecting passengers with vehicle-for-hire services, supported by DiDi's ownership and technology ecosystem.

• 99Ride-hailing and vehicle-for-hire application2012

  The 99 application is the brand's principal digital interface for vehicle-for-hire services in Brazil. It enables passengers to request transportation through a mobile platform and connects those requests with participating drivers or vehicle-for-hire providers. The supplied references establish the application-based mobility model but do not provide a verified current list of ride categories, fare structures, coverage areas, or additional services.

• 99TaxisTaxi-booking service

  99Taxis was the former name associated with the company and reflected its initial focus on taxi booking through a digital platform. The service helped connect passengers with taxis in Brazil before the business adopted the broader 99 identity. The available material does not establish the precise date of the name change or whether every historical 99Taxis function remains available under the current brand.

• 2018DiDi acquires the remaining ownership of 99M&A

  After investing in 99 in 2017, DiDi proceeded to acquire the company's remaining ownership as part of its expansion in the Brazilian mobility market.

  What changed. DiDi completed the acquisition on January 3, 2018. The transaction value was not disclosed; a reported figure of approximately US$600 million was described as a rumor rather than an official amount.

  Aftermath. 99 became part of the DiDi group and continued as a Brazil-focused mobility brand. The transaction was also linked to 99's recognition as Brazil's first startup commonly described as a unicorn.

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• 2018DiDi acquires the remaining ownership of 99

  On January 3, 2018, DiDi purchased the remainder of 99 for an undisclosed amount. The transaction integrated the Brazilian mobility company into DiDi's group.

  M&A
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• 2017DiDi provides funding to 99

  DiDi invested in 99 in January 2017. The funding was described as supporting hiring and the company's ability to compete in Brazil's vehicle-for-hire market.

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• 2017SoftBank-led investment round raises US$100 million for 99

  A further investment round led by SoftBank raised US$100 million for 99 in May 2017, providing additional capital during the company's expansion in Brazil.

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1. 99 (app)
2. 99 official website