German carmaker Daimler has agreed to buy a majority stake in Chauffeur Prive, a French rival to the larger Uber car-ride app, in the latest example of traditional companies looking to deal with challenges from technology-driven start-ups.
The deal was announced in a joint statement by both companies. The price of the acquisition, which will be carried out by the German company’s Daimler Mobility Services division, was not disclosed.
Chauffeur Prive was founded in 2011. The company says it has more than 1.5 million customers and access to 18,000 drivers, and the service is relatively popular in Paris.
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