99, formerly known as 99Taxis, is a vehicle for hire company operating in Brazil. It is owned by DiDi.
History
Launched in 2012 servicing São Paulo, the company has expanded since then to other regions. It was founded by Paulo Veras, Renato Freitas and Ariel Lambrecht.[2]
In January 2017, 99 received funding by DiDi.[3][4] The funding allowed 99 to open more positions, and deal with competitors.[5] In May 2017, another round of investments, led by SoftBank, raised US$100 million.[6] On January 3, 2018, DiDi purchased the remainder of 99[7] for an undisclosed amount, but rumored to be at US$600 million,[8] making 99 Brazil's first so-called "unicorn", i.e., a startup company valued at over US$1 billion.[9]
References
- Onde Estamos retrieved 18 August 2017^
- Guilherme Manechini. Apps de táxi são populares. Só falta darem dinheiro EXAME, 18 July 2013, retrieved 18 August 2017^
- Didi Chuxing Invests in Brazilian Uber Rival, Reignites Ridesharing War Forbes, 4 January 2017, retrieved 18 August 2017^
- Gian Kojikovski. 99 recebe investimento de 320 milhões de reais liderado pela Didi EXAME, 4 January 2017, retrieved 18 August 2017^
- Felipe Moreno. Após aporte de US$100 milhões, 99 vai dobrar de tamanho e contratar 250 Starse, 18 January 2017, retrieved 18 August 2017^
- Catherine Shu. SoftBank adds Brazil's 99 to its ridesharing portfolio with a $100 million investment TechCrunch, 24 May 2017, retrieved 18 August 2017^
- Didi Chuxing Acquires 99, Brazil's Ride-Hailing Leader 99, 3 January 2018, retrieved 4 January 2018^
- Vinod Sreeharsa and Mike Isaac. Didi Chuxing, China's Ride-Hailing Giant, Agrees to Buy Uber Rival in Brazil The New York Times, 3 January 2018, retrieved 4 January 2018^
- Angelica Mari. All you need to know about Brazil's first tech unicorn ZDNet, retrieved 2020-12-02^