Tag: Car Services and Livery Cabs

Didi of China Moves to Delist From New York Stock Exchange

Chin@Strategy

With 377 million active users a year in China and services in 16 other countries, Didi Chuxing has been celebrated in China as a homegrown tech champion. It vanquished its American rival, Uber, and bought that company’s Chinese operations in 2016. Promises to use its banks of data to unsnarl traffic and develop driverless car technologies made its executives icons as Chinese officials called for building a more innovative economy. Updated  Dec. 2, 2021, 7:49 p.m. ET The delisting is likely to increase investor concerns about what seems to be…

The Rise and Fall of the World’s Ride-Hailing Giant

Chin@Strategy

China’s leading ride-hailing company, Didi, was an operation of dubious legality when it raised its first big bucket of money nearly a decade ago. And in one way or another, it has been testing the authorities ever since. When a venture capital firm invested $3 million in the company in 2012, Didi lacked several of the state-issued licenses it needed to do business, two people familiar with the matter said. When Beijing, Shanghai and other big cities began requiring that drivers for ride-hailing platforms be local residents, Didi protested. Today,…