Posts tagged " Didi "

How Didi Taxi Became a $10B Company with 93% Market Share

November 9th, 2015 Posted by China Business Development, E-Commerce, M&A No Comment yet

Newport directors were in Shanghai recently to sit in on investment pitches from startups. Wang Gang, the founder of Didi Taxi app and a prominent angel investor, attended the meeting as well. Didi Taxi was established in Zhongguancun Haidian ZPARK with an investment of $800,000.  Various incubators and funds supported Didi until its merger with competitor Kuadi in February 2015 to become the dominant ride sharing app in China.

Read the Forbes China article here.

Chinese Car App Fights Uber With Free Rides

May 22nd, 2015 Posted by China Business Development No Comment yet

Alibaba is a shareholder in Chinese car-hailing app operator Didi Kuaidi. Guess what tactic Jack Ma used in 2002 to fend off eBay?

eBay is a shark in the ocean. We are a crocodile in the Yangtze River.
If we fight in the ocean, we will lose. But if we fight in the river, we will win.

Jack Ma,
CEO Alibaba Group

Read the full Bloomberg article here.

Shanghai First to Allow Car-Sharing Apps

May 19th, 2015 Posted by China Business Development No Comment yet

According to a statement posted on the Shanghai government’s website, drivers for Didi and Kuadi will be registered under the same information technology platform as taxis. Didi and Kuadi are both Chinese companies that recently merged. Note the US-based Uber is not on this list.

Read the full Bloomberg article here.

850 million Chinese Online by end-2015

May 12th, 2015 Posted by Capital Markets, China Business Development No Comment yet

This remarkable article provides back story on how a boutique Chinese investment bank convinced Kuadi Dache (backed by Alibaba) and Didi Dache (backed by Tencent) to agree to China’s biggest Internet merger.  The merger created a credible competitor to market-leader Uber.

Among the interesting facts from the story:

  • The Chinese government expects 850m Chinese to be online by the end of this year.
  • Three of China’s richest people are Internet entrepreneurs: Alibaba’s Jack Ma at #2, Tencent’s Ma Huateng at #3, and Baidu’s Robin Li at #4.
  • Beijing, a city with a population of 21.5 million people, is home to 20 tech companies valued at more than $1billion each.

Read the full Bloomberg Markets article here.