(SCMP) US ride hailing giant Uber has bought Hong Kong’s most popular cab app HKTaxi as it pushes to gain traction in the local market.
With access by at least 70,000 registered cab drivers, HKTaxi will facilitate Uber’s control in Hong Kong, where it still lacks a legal recognition by the local government.
The financial details of the acquisition are yet to be disclosed, with Uber’s general manager in Hong Kong Estyn Chung saying the deal aims to increase the adoption of e-hailing services.
Chung expects the deal to bring together local knowledge and engineering strength of HKTaxi with Uber’s operational expertise and long-standing technology.
Kay Lui, a HKTaxi co-founder, expects the partnership to change the adverse perception of the local tax drivers.
HKTaxi has been downloaded at least 2 million times since it was launched in 2013.
UBER: NYSE is down -0.89%.
