Didi Chuxing(北京小桔科技)

Fast facts

Year Founded
2012
HQ Location
Beijing, China
Publicly Traded?
No
Overseas Operations
Yes
US Sanctions
No
Military Affiliation in China
No

Revenue

USD 21.6 B
*In 2021 Q1, DiDi turned a profit for the first time.

Valuation

USD 63.2 B
*Valuation is reported as enterprise value. It was last updated on November 29, 2021.

Employees

13,000

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.

  • 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

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.

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.”

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