Just last week, China's dominant taxi-hailing app Didi Kuaidi surprised stakeholders by registering bigger numbers as compared to arch rival Uber Technologies, claiming it has three times more daily car trips.

According to Reuters, Xiaoju Kuaizhi's app Didi Kuaidi is doing much better than its rival Uber Technologies, which also has a similar app in the market.The claims from Didi Kuaidi come shortly after Uber had sent out a letter to its shareholders in America boasting of a similar success story.

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In its letter, Uber told the shareholders of its ambitious plan to invest one billion dollars in the Chinese markets. As of now, Didi Kuaidi controls more than eighty percent of the Chinese market when it comes taxis. The core purpose of the Chinese app and its parent technology firm is to raise funds for its development plans and the road ahead.

Xiaoju Kuaizhi, the Chinese company that created the Didi Kuaidi app, is valued at fifteen million dollars which is almost forty million less than the estimated valued. Through the letter, the Chinese company is looking to raise 1.5 million dollars as funds; however, given the demand and the extensive popularity of the app, this amount is expected to go up to two billion as well.

In its letter to the stakeholders, Didi Kuaidi confirmed that it had ten times more volume as compared to its close competitor and is registering three times more revenue. Claiming these feats, the company portrayed its strong position in the market.

Another report on NDTV points out that Uber is supported by Baidu, China's leading search engine. On the other hand, Didi Kuaidi is backed by the renowned Alibaba Group Holdings Ltd and Tencent Holdings Ltd. As of now, Didi Kuaidi serves three million trips per day. However, the company plans to achieve its target of thirty million trips and is working aggressively to achieve its target.

Meanwhile, Chinese government officials have raided the offices of Uber and Didi Kuaidi to review their claims. This raid led to nabbing of unlicensed drivers who have been using the facility via the app. Both technology companies have assured the government officials to cooperate in resolving the matter and abide by the rules.

TagsDidi Kuaidi app, China Taxi app, Uber Offers, Uber taxi app