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Japan’s Softbank Injects US$100m in 99

May 24, 2017
99 SoftBank LAVCA Venture Investors

Japan’s Softbank and Riverwood Capital bought a minority stake in 99 (formerly 99 Taxis), a Brazilian rideshare company, for US$100m. Investors in 99 include Didi Chuxing, Riverwood Capital, monashees+, Qualcomm Ventures, Tiger Global and others.

(New York Times) RIO DE JANEIRO — A Latin American competitor to Uber — 99 — has raised US$100m from SoftBank of Japan to fuel growth, the Brazilian start¬up’s chief executive says.

SoftBank will become a minority shareholder in the privately held 99, as the ride¬hailing service Didi Chuxing of China did when it backed the start¬up in January. SoftBank is also a major investor in Didi Chuxing.

Read more at New York Times.

Japan’s Softbank Injects US$100m in 99 was last modified: February 22nd, 2018 by Editor
9999 TaxisBrazilJapanLATAMSoftbankVenture Capital
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