Uber China’s greatest rival, Didi Kuaidi made a couple of pretty important announcements this week, that include confirmation of its recent fundraising as well as a change in the name and logo. Above all that though, is Didi
Kuaidi Chuxing’s investment into Uber’s US rival Lyft, pretty much signalling of an intense taxi market war ahead.
First of all, China’s largest taxi-hailing service is now “Didi Chuxing,”. In a pretty drastic move on its part, the company has decided to rebrand itself and also changed its logo. The suffix ‘Chuxing’, which means “ccommute” in Chinese, rather than “kuaidi,” which is basically a combination of “quickly” and “taxi“, looks to be inspired from Didi’s recent move into sector other than taxi-hailing.
Considering the fact that Didi now offers premium driver services, car pooling, and even bus sharing, the rechristening makes a lot of sense. However, Kuaidi held importance, considerig that it came with the Didi Dache and Kuaidi Dache merger.
The logo has also undergone a similar surgery. As per South China Morning Post, which reported upon the news,
Didi Kuaidi’s new logo uses a capitalised “D”, rendered in a way that resembles a smiling face to present a friendlier image and underscore its goal of making journeys more efficient, accessible and comfortable, it said in a statement Wednesday.
A new name and a new logo? That’s certainly quite a lot of modification packed into a very short period of time.
Well, according to sources, the sudden change is also stimulated in part by the company’s desire to remove the stigma of illegal taxi service from its name — which followed after a recent and ensuing crackdown by the Chinese government taxi-hailing services in the country. Although Didi is not the only service facing the government’s ire, it is one of those that have been hit the hardest — being among the largest service providers in the country.
The company is probably hoping that the move will provide it with a new chance and wipe away any negative associations with the law in China –that still looks to be having trouble with coming to terms, with the use of Technology for profits — that may have an adverse effect on businesses.
In other news, we can now confirm the $3 Billion funding everyone has been talking about. According to The Wall Street Journal, the company is taking the war home to Uber, by investing into San Fransisco-based car-hailing company Lyft, bringing its net valuation up-to $2.5 billion. Alibaba and Tencent, both China based backers of Didi Kuaidi, have also joined arms and contributed to a net funding of $150 million round in May.
Well, the heat has certainly been turned up yet another notch in the ongoing battle that has Uber and Didi at the opposite ends of the ring. Between WeChat blocking Uber for using its services, to the rebranding and the fresh influx of money, Uber might just have to go on to the defensive.