Didi Chuxing(滴滴)
Fast facts
- Year Founded
- 2012
Source: DiDi Websitewww.didiglobal.com/about-special/senior
- HQ Location
- Beijing, China
- Publicly Traded?
- No
No, but was reported to go public soon.Source: Tencent Newsnew.qq.com/omn/20210105/20210105A03MQZ00.html
- Overseas Operations
- Yes
DiDi operates in Argentina, Australia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Japan, Mexico, New Zealand, Panama, Peru, Russia, and South Africa. It has also invested in Grab (Southeast Asia's largest ride-share provider), Ola (India's largest ride-share provider), Careem (MENA's largest ride-sharing provider), Bolt (a leading ride-sharing provider in Europe and Africa), Lyft (a leading ride-share provider in the US), and has established an office in Silicon Valley.Source: DiDi Websitewww.didiglobal.com/about-didi/about-us
- US Sanctions
- No
- Military Affiliation in China
- No
Revenue
In 2021 Q1, DiDi turned a profit for the first time.Source: SEC Form F-1 IPO Filingwww.sec.gov/Archives/edgar/data/1764757/000104746921001194/a2243272zf-1.htmSource: CNBCwww.cnbc.com/2021/06/10/didi-chuxing-files-for-ipo-booked-6point4-billion-revenue-in-q1.html
Valuation
Valuation is reported as enterprise value. It was last updated on November 29, 2021.Source: Yahoo Financefinance.yahoo.com/quote/DIDI/key-statistics
Employees
Source: China Dailywww.chinadaily.com.c/201902/15/WS5c664d9ba3106c65c34e9910.html
Founded in 2012 by a former Alibaba employee, Didi Chuxing (“DiDi”) is a Chinese mobile transportation and convenience platform that has risen to dominate the Chinese ride-sharing market with a market share of 80-90%. The company’s services include taxi hailing, private car hailing, social ride-sharing, bike sharing, on-demand delivery services, and automobile services, including sales, leasing, financing, maintenance, fleet operation, electric vehicle charging and co-development of vehicles with automakers. Operating in nearly 4000 cities across 15 countries, DiDi has about 500 million active users and tens of millions of drivers. It is backed by tech giants like Tencent and Alibaba as well as SoftBank, and in 2016 it acquired Uber China in a big win for the business.
In 2018, there were two high-profile murders and a sexual assault in DiDi’s ride-sharing service, scuttling initial IPO plans and causing the company to engage in significant image rehabilitation. Since then, DiDi has also been the subject of a number of antitrust probes, but none has resulted in too significant of a penalty. In June 2021, DiDi announced it was filing for an IPO in New York with a $65 B valuation.
Source: DiDi Websitewww.didiglobal.com/about-didi/about-usSource: Tencent Newsnew.qq.com/omn/20210105/20210105A03MQZ00.htmlSource: Wiredwww.wired.co.uk/article/didi-car-chuxing-uber-china-safetySource: Protocolwww.protocol.com/china/didi-ipo-everything-to-knowSource: Financial Timeswww.ft.com/content/bb80e462-fbb9-49d1-8a87-b3ad511c1d4e
-
- Name
- Ownership
-
- Chéng Wéi
Source: Qichachawww.qcc.com/firm/4659626b1e5e43f1bcad8c268753216e.html
- 49.1900%
- Chéng Wéi
-
- Wáng Gāng
Source: Qichachawww.qcc.com/firm/4659626b1e5e43f1bcad8c268753216e.html
- 48.2250%
- Wáng Gāng
-
- Zhāng Bó
Source: Qichachawww.qcc.com/firm/4659626b1e5e43f1bcad8c268753216e.html
- 1.5530%
- Zhāng Bó
-
- Wú Ruì
Source: Qichachawww.qcc.com/firm/4659626b1e5e43f1bcad8c268753216e.html
- 0.7230%
- Wú Ruì
-
- Chén Tīng
Source: Qichachawww.qcc.com/firm/4659626b1e5e43f1bcad8c268753216e.html
- 0.3090%
- Chén Tīng
- Cheng Wei (Will) (程维), Founder, Chairman and Chief Executive Officer
- Liu Qing (Jean) (柳青), Co-Founder, Director and President
- Zhu Jingshi (Stephen) (朱景士), Director, Senior Vice President and Chief Executive Officer of International Business Group
- Chen Zhiyi (陈峙屹), Director
- Lau Chi Ping (Martin) (刘炽平), Director
- Kentaro Matsui, Director
- Adrian Perica, Director
- Zhang Yong (Daniel) (张勇), Director
- Zhang Bo (Bob) (张博), Co-Founder and Chief Technology Officer
- Zhuo Yue (Alan) (卓越), Chief Financial Officer
- Wu Rui (吴睿), Co-Founder and Vice President of Risk Control and Compliance
- Hou Jinglei (候景来), Chief Mobility Safety Officer
- Li Min (李敏), Vice President of Public Communications
- Sun Shu (孙枢), Chief Executive Officer of China Ride Hailing
- Xu Peng (David) (徐鹏), Vice President and Head of Capital Markets
Source: SEC Form F-1 IPO Filingwww.sec.gov/Archives/edgar/data/1764757/000104746921001194/a2243272zf-1.htm
DiDi operates in Argentina, Australia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Japan, Mexico, New Zealand, Panama, Peru, Russia, and South Africa. It has also invested in Grab (Southeast Asia's largest ride-share provider), Ola (India's largest ride-share provider), Careem (MENA's largest ride-sharing provider), Bolt (a leading ride-sharing provider in Europe and Africa), Lyft (a leading ride-share provider in the US), and has established an office in Silicon Valley.
Source: DiDi Websitewww.didiglobal.com/about-didi/about-us
Didi Chuxing Sanctions
While at this time it appears that this company is not the subject of any U.S. or other global sanctions, it is important to note that Chinese companies tend to have more opaque organizational structures than their Western peers. Chinese companies' affiliated brands, operating units, and overseas subsidiaries are not always obvious or even identifiable. Given this, a Chinese company may not be the subject of sanctions, but one of its subsidiaries may be, thus making it difficult to accurately ascertain a company's full sanctions status.
Didi Chuxing Reputational Disclosures
On June 17, 2021, it was announced that the Chinese government had launched an antitrust probe into DiDi as it filed for an IPO in the US.
On May 1, 2021, DiDi was fined $7,727 by the State Administration for Market Regulation (SAMR) for failing to seek approval in its establishment of several joint ventures.
On March 12, 2021, DiDi was fined $77 K by the SAMR for violating anti-monopoly rules.
On August 26, 2018, DiDi temporarily suspended services after a customer was raped and killed by her driver.
On May 11, 2018, DiDi suspended its “Hitch” carpooling service after a woman was killed by a male in her car. It was the second such death with “Hitch.”
Source: Reuterswww.reuters.com/business/autos-transportation/exclusive-chinas-ipo-bound-didi-probed-antitrust-violations-sources-2021-06-17/Source: CGTNnews.cgtn.com/news/2021-05-01/China-fines-Tencent-Didi-9-others-for-failing-to-disclose-deals-ZU0XlrsfgQ/index.htmlSource: Reuterswww.reuters.com/article/us-china-anti-trust-idUSKBN2B40EFSource: BBCwww.bbc.com/news/world-asia-china-45313074Source: BBCwww.bbc.com/news/business-44081885
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Didi Chuxing | South China Morning Post
Your source for credible news and authoritative insights from Hong Kong, China and the world.
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Didi is relaunching its pool service with a curfew for female passengers
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China’s Tesla wannabe Xpeng starts ride-hailing service – TechCrunch
There’re a lot of synergies between electric vehicles and ride-hailing. Drivers are able to save more steering an EV compared to a gas vehicle. Environmentally conscious consumers will choose to hire an electric car. And EVs are designed with better compatibility with autonomous driving, which is expected to hit public roads in the coming decades. […]
Didi Dominates Ride-Hailing in China but Loses Money on Many of Its Trips
Didi Chuxing Technology beat out Uber in China, but nearly three years later the startup, whose investors include its former rival and SoftBank, still struggles with profitability in its core ride-hailing business.
Killer cab driver’s family ordered to pay US$92,700 compensation
Driver Liu Zhenhua took own life after murdering Li Mingzhu in case that shocked China.
Didi is axing jobs and could retreat from food delivery and bike sharing | CNN
China's biggest ride-hailing firm is axing 15% of its staff and scaling back non-core businesses as it tries to get back on track following the murders of two passengers last year.
China’s Didi is laying off 15% of its staff – TechCrunch
China’s largest ride-hailing firm, Didi, plans to let go 15 percent of its employees, or about 2,000 people this year, sources told TechCrunch. The cut comes as the beleaguered transportation giant copes with a stricter regulatory environment that puts a squeeze on driver supply and backlash from two high-profile passenger murders last year. Chief executive Cheng […]
China’s Didi reportedly lost a staggering $1.6 billion in 2018 – TechCrunch
China’s largest car-hailing company is facing relentless pressure from all fronts. Beijing-based Didi Chuxing reportedly lost a staggering 10.9 billion yuan ($1.6 billion) in 2018, according to financial data that Chinese news site 36Kr obtained. For some context, Uber posted a net loss of $939 million on a pro forma basis and an EBITA loss at $527 million during […]
China’s grey economy losing ability to cope with laid off factory workers
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For Chinese Startups, an Economic Slowdown Brings a ‘Freezing Winter’
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Tencent moves into automotive with $150M joint venture – TechCrunch
China’s internet firms are getting pally with giant state-owned automakers as they look to deploy their artificial intelligence and cloud computing services across traditional industries. Ride-hailing startup Didi Chuxing, which owns Uber China, announced earlier this week a new joint venture with state-owned BAIC. Hot on the heels came another entity set up between Tencent and the […]
Didi Chuxing Mulls Layoffs
Ride-hailing giant Didi Chuxing is considering layoffs as it grapples with tighter regulations that limit its supply of drivers and cars, joining other Chinese tech companies whittling costs amidst the slowest economic growth in three decades.While plans haven’t been finalized and the figures ...
A Chill From Beijing Buffets China’s Tech Sector
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Didi Chuxing loses Rmb4bn in first half of year
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China goes without Didi Chuxing for the first time
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China clamps down on transport sector after Didi passenger killing
China clamping down on transport sector after Didi passenger's murder
Didi Suspends Carpooling Service in China After 2nd Passenger Is Killed (Published 2018)
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Chinese teens hail 1,400km Didi ride with less than US$30
Bored Chinese schoolboys convince Didi driver to take them on 1,400km journey with less than US$30 in cash to pay him
China's Didi to invest $1 billion in its auto services platform
Didi Chuxing Technology, China's largest ride-hailing service, said on Monday it will invest $1 billion in its auto services business, part of a larger unit rebranding as the company ramps up to a widely anticipated initial public offering (IPO).
China’s Didi Chuxing continues its international expansion with Australia launch – TechCrunch
Didi Chuxing, China’s dominant ride-hailing company, is continuing its international expansion after it announced plans to launch in Australia this month. The company — which bought Uber’s China business in 2016 — said it will begin serving customers in Melbourne from June 25 following a month-long trial period in Geelong, a neighboring city that’s 75km […]
Blockchain is a surprisingly hot topic at China’s annual political gathering
Tech leaders are singing the praises of blockchain at this week's Communist Party meetings—months after Beijing launched a crackdown on cryptocurrency trading.
Uber Slayer: How China’s Didi Beat the Ride-Hailing Superpower
At the peak of hostilities, Uber and its rival Didi were each burning through more than a billion dollars a year. Here’s how Didi won out.
