Didi Chuxing
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Formerly called
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Didi Kuaidi (Feb 2015–Sept 2015) Didi Dache, Kuaidi Dache (pre-Feb 2015) |
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| Privately held company | |
| Founded | June 2012 |
| Founders | Chéng Wéi (程维) |
| Headquarters | Beijing, China |
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Area served
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Mainland China |
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Key people
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Chéng Wéi (Founder and CEO) Liu Qing (柳青) (President) |
| Services | Vehicles for hire |
| Website | www |
| Didi Chuxing | |||||||
| Chinese | 滴滴出行 | ||||||
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| Former name | |||||||
| Chinese | 滴滴快的 | ||||||
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| Transcriptions | |
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| Standard Mandarin | |
| Hanyu Pinyin | Dīdī Chūxíng |
| Transcriptions | |
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| Standard Mandarin | |
| Hanyu Pinyin | Dīdī Kuàidī |
Didi Chuxing (Chinese: 滴滴出行; pinyin: Dīdī Chūxíng, pronounced [tɨ́tɨ́ ʈʂʰúɕɪ̌ŋ]), formerly Didi Kuaidi (Chinese: 滴滴快的), is the world's largest ride-sharing company, providing transportation services for close to 400 million users across over 400 cities in China. Its headquarters is located in Beijing. It provides services including, taxi hailing, private car hailing, Hitch (social ride-sharing), DiDi Chauffeur, DiDi Bus, DiDi Test Drive, DiDi Car Rental and DiDi Enterprise Solutions to users in China via a smartphone application. Formed from the merger of rival firms Didi Dache and Kuaidi Dache (backed by the two largest Chinese Internet companies, Tencent and Alibaba respectively), it was valued (as of June 2016) at approximately US$28 billion. DiDi announced that it acquired Uber's China unit on August 1, 2016. Following this acquisition, Didi Chuxing is estimated to be worth US$35 billion and it is the only company to have all of China's three Internet giants—Alibaba, Tencent, and Baidu—as its investors.
Didi Chuxing completed 1.4 billion rides milestone in just 2015 alone, as well as clocking over 200 million rides in December 2016 alone (one month), making it the most dominant ride-sharing company in the world. This far surpassed Uber which completed only 1 billion rides in 6 years' time since its founding in 2009.
In June 2012, Orange Technology (小桔科技) was established and Didi Dache（嘀嘀打车）- meaning "Beep Beep Call a Taxi"- the initial incarnation of Didi Chuxing's ride-hailing service was launched in September, 2016, as an app for consumers to request taxis for immediate pick up by Cheng Wei. Later, the app allowed consumers to reserve taxis for trips in the next day. In 2013, Didi Dache completed its Series B financing. Series C was completed in 2014. In the same year, Jean Liu (Liu Qing), a former Goldman Sachs Asia managing director, joined the company as its COO. She became president of the company the following year.
Didi Kuaidi is the result of the February 2015 merger between taxi-hailing firms Didi Dache (backed by Chinese Internet giant Tencent Holdings Limited) and Kuaidi Dache, backed by Alibaba Group. A study in December 2013 by Analysis International, cited by Reuters, estimated Didi Dache to hold approximately 55% of the smartphone-based taxi-hailing market (about 150 million Chinese were estimated to use theirs smartphones to hail taxis), with Kuaidi Dache holding nearly all of the rest of the market share. However, a protracted price war in an effort to gain market share had resulted in mounting losses for the two companies, despite Didi Dache and Kuaidi Dache raising US$700 million and US$600 million from private investors, respectively, to sustain their growth in the world's largest transport market. According to the press release on the 2015 merge, Didi Dache and Kuaidi Dache would operate in parallel with separate management teams.
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Wikipedia