Booking Holdings, the owner of Booking.com, will invest $500 million in the Chinese startup Didi Chuxing, the Chinese rival of Uber, as part of a partnership between the two companies.
Following the partnership, customers who have booked hotel rooms through applications owned by Booking Holdings will be able to rent Didi car rides from the same applications. At the same time, customers of the Chinese ride-sharing company will be able to make reservations on the Booking.com and Agoda websites directly from the Didi application.
The two companies did not provide details regarding the markets in which they will collaborate.
In August 2016, Didi took over the Chinese division of the well-known American ride-sharing company Uber. The American company was forced to exit the Chinese market precisely because of the costly competition with its Chinese rival.
Frequently Asked Questions
What is the value of the investment made by Booking Holdings?
Booking Holdings has invested $500 million in the Chinese startup Didi Chuxing.
How will users benefit from this partnership?
Booking customers can book Didi rides, and Didi users can book hotels via Booking.com and Agoda directly from the app.
What happened to Uber in China?
In 2016, Didi acquired Uber’s Chinese division after the American company withdrew due to intense competition.