In the nine months since Didi acquired the Brazilian ride-hailing startup 99 in a deal that valued the company at a reported $1 billion, the market for mobility and logistics startups in the Latin American region has changed dramatically.
The Didi deal was perhaps the first big acquisition for a Latin American startup in recent years, and a starting gun for what’s been an extremely competitive race among startup companies to win the hearts and minds of consumers across the region.