Ola, Didi Kuaidi, Lyft and GrabTaxi, four different cab-hailing services from India, China, the US and Singapore, respectively, announced a strategic partnership for a global rideshare partnership between the four companies.

The move is being seen as a strategic one to take on rival Uber that commands a unicorn valuation.

The joint partnership will fructify in the first quarter of 2016.

These four companies would effectively cater to almost 50% of the world's population, says ANI.

Ola, Didi Kuaidi, Lyft and GrabTaxi, which have collectively raised $7 billion, will work with each other, taking advantage of each other's presence in their respective geographies to cater to travellers who travel to these countries, the news agency added.

Bhavish Aggarwal, co-founder and CEO of Ola said that they are excited to partner with Lyft, Didi Kuaidi and GrabTaxi.

Further, Lyft co-founder and president, John Zimmer said together they will allow Lyft to "offer the world's best coverage, while building upon their shared vision of reconnecting communities through better transportation."

Anthony Tan, CEO, GrabTaxi said the partnership is crucial in Southeast Asia, which is diverse in terms of language and culture and pose challenges for foreign players in the business.