Diabytes
Taxi app News
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The Maharashtra government planned to develop a cab hailing app in three months for black- and- yellow taxis on the lines of the services provided by private aggregators like Ola and Uber,Chief Minister Devendra Fadnavis said on Friday.
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The companies, however, declined to comment on the amount being invested and the percentage of stake being picked up.
Other investors include hedge fund Coatue Management LLC and China`s mobile car-ride hailing company Didi Kuaidi, said GrabTaxi, which competes with Uber Technologies Inc.
Chinese search engine Baidu, the country's equivalent of Google, announced Wednesday it has bought a stake in Uber for an undisclosed sum, as the controversial US web-based taxi app seeks to expand into an already crowded market.
Japanese telecoms firm SoftBank Corp has pumped in $250 million to become the top investor in Southeast Asian mobile taxi-booking application GrabTaxi Holdings Pte Ltd.
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