Lyft Is Partnering With Didi Kuaidi, Uber's Biggest Competitor In China

Bad news for Uber: Didi Kuaidi, China's top ride-sharing service, has joined forces with Lyft and invested $100 million in the company.

Less than a day after Chinese ride-hailing giant Didi Kuaidi made public a $100 million investment in Lyft, the two companies held a press conference announcing a "two countries, one app" solution as well as mutual technological and financial cooperation. Didi Kuaidi has proven to be a formidable opponent for Uber, which has poured resources into China this year—including a $1 billion investment—and supposedly clocks a million rides per day in the country.

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