Didi

Didi Global Inc., founded in 2012 by Will Cheng, is China's largest ride-hailing company. The platform offers a range of services including taxi-hailing, private car-hailing, bike-sharing, and van hire for freight and logistics. As of March 2021, Didi had 377 million annual active users and 156 million average monthly active users. The company's services are available in about 400 cities across China, where it holds an estimated 90% market share. Didi's technology collects user data such as location and ride duration, which is stored on servers in China. In addition to its core ride-hailing business, Didi has expanded into related areas like automobile sales, leasing, financing, and maintenance, fleet operation, electric vehicle charging, and co-development of vehicles with automakers. In November 2020, Didi launched an all-electric hatchback for ride-hailing in partnership with BYD. The company's revenue reached 48.8 billion yuan (USD 6.6 billion) in the second quarter of 2023, up 52.6% year-on-year. In the same quarter, Didi's average daily transactions reached 29.4 million. As of September 2023, Didi reported its first quarterly profit since 2021, with net income attributable to shareholders of 107 million yuan (USD 14.66 million). In August 2023, Didi sold its electric vehicle business unit to Chinese electric vehicle startup Xpeng for up to USD 744 million.

Key customers and partnerships

Didi operates in 15 countries outside of China, including Brazil, Mexico, and Russia. In 2016, Didi acquired Uber's China operations, with Uber retaining a 12.8% stake in the company. Softbank is Didi's largest shareholder with a 21.5% stake.