Launched in 2012 servicing São Paulo, the company has expanded since then to other regions.

It was founded by Paulo Veras, Renato Freitas and Ariel Lambrecht.

[3][4] The funding allowed 99 to open more positions, and deal with competitors.

[5] In May 2017, another round of investments, led by SoftBank, raised US$100 million.

[6] On January 3, 2018, DiDi purchased the remainder of 99[7] for an undisclosed amount, but rumored to be at US$600 million,[8] making 99 Brazil's first so-called "unicorn", i.e., a startup company valued at over US$1 billion.