Alibaba-backed Kuaidi Announces Rapid Growth of Limo Service into 32 Cities, Above its 6M Daily Taxi Rides

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Expansion to 306 Cities Served and Asia, Europe and US Announced

Kuaidi Dache, the Alibaba-backed global ride sharing service, today announced that its recently launched luxury limo service, Kuaidi ONE, has crossed into 32 cities in China. This expansion positions Kuaidi as the largest car-service app in terms of market share and transaction volume, confirming the company’s ambitions to expand beyond China into parts of Asia, Europe and the US. This growth comes on top of the 6M daily rides Kuaidi already fulfills at its peak in 306 cities.

Kuaidi ONE, which launched in July 2014, is a lifestyle and logistics service that allows smartphone users to order chauffeured luxury cars such as BMWs and Audis in order to reach their destination. The adoption of its limo service has been well-received as a result of Kuaidi’s strong brand name and reputation. This service quickly grossed $1 million in its first city, bringing it on track to generate revenues of tens of million/week by end of year.

“Our goal is to redefine daily commuting and travel and, since launching, we have expanded our business both horizontally and vertically,” said Joe Lee, Co-founder of Kuaidi Dache. “We are pleased that our limo service has been so well-received in China and is a testament to our brand. With the continued backing of our investors and partners, we plan to bring the same trusted, comprehensive service all over the world and believe that we will, in fact, change peoples’ lifestyle habits while reducing carbon emissions.”

Since launching in 2012, Kuaidi now covers 306 “mega” cities with populations of over 1 million and has a total of 100 million registered users. Its major partners include Alipay, Ctrip, AutoNavi, Baidu Maps, Qunar, and Beijing's '96106' government official platform.

To date, Kuaidi has raised over $100 million in funding from major investors Alibaba, Matrix, and New Horizon with plans to raise US funds in the future. The company today announced plans to expand globally throughout Asia, Europe and the US.

ABOUT KUAIDI
Kuaidi Dache, headquartered in Shanghai and Hangzhou, launched in 2012 with the goal of improving the intersection of luxury and logistics. Currently Kuaidi brands, Kuaidi Taxi and Kuaidi ONE, service more than 306 cities via 1M drivers at peak. For more information visit http://www.kuaidigroup.com

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Sandra Lee
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