Didi Chuxing, formed from the merger of rival firms Didi Dache and Kuaidi Dache (backed by the two largest Chinese Internet companies, Tencent and Alibaba respectively), is China's largest ride-sharing service and one of the most valuable ride-sharing services in the world. DiDi acquired Uber's China unit on 1 August 2016 and is the only company to have all of China's three internet giants — Alibaba, Tencent, and Baidu — as its investor and carries 30 million rides per day.