Alibaba and Tencent have formed a joint venture that will offer ride-hailing services in China:
investment in mass transit to curb deficit spending. With no end in sight to urbanization, consumers need more mobility options in the absence of improved public transit. Ride hailing is well-suited to help address that demand.
Many Chinese cities are dense and difficult to navigate, which can make private car ownership challenging. In Shanghai, for example, 26 million people live over a 13 square mile radius, making it one of the densest cities in the world. In comparison, New York City isabout 8.6 million people over a 302 square mile radius.
Alibaba and Tencent's new JV can succeed by utilizing its parent companies' troves of consumer data to drill down into the most lucrative portions of the Chinese ride-hailing market. The colossal user bases of Ant Financial's Alipay (
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