What is DiDi? - Uber Like Company in China

DiDi-Logo

DiDi Logo

1. What is DiDi?

DiDi is a technology company which provides it's users a service of taxi hailing, private car hailing, social ride sharing, bike sharing and food delivery capability. DiDi is the Uber like service in China which is popular and used by majority of the people in China.

DiDi operates in Mexico, Australia, Japan, Brazil, Hong Kong and Taiwan in addition to China.

2. History

DiDi is a brand name and a trade mark own by DiDi Chuxing Technology Corporation. DiDi is founded by Cheng Wei in June 2012 as he missed multiple flights because he wasn't able to find a taxi to go to the airport on time. Cheng Wei left Alibaba after working there for 8 years of period and founded the company DiDi Dache. DiDi Dache means "Beep Beep Call a Taxi".

DiDi was extremely popular among the users and quickly expanded across China rapidly. With the rapid growth in the market share, DiDi Dache got funded by Tech giant in China known as Tencent in November 2012 for a value of US$ 15 million.

There was another company in China named Kuaidi Dache which was backed by Alibaba which also had the same concept and business model. Didi Dache was competing against Kuaidi Dache due to the operating in the same business segmentation in China.

Kuaidi Dache and DiDi Dache got merged in February 2015 and the company got renamed to DiDi Kuaidi. DiDi Kuaidi is serving 55% of the smartphone based taxi hailing services in China. After the merger of two companies, DiDi Kuaidi is considered worth US$ 6 billion.

To reach out to the global expansion DiDi Kuaidi changed the name to DiDi Chuxing in September 2015. After Uber entering to the Chinese market in August 2013 Uber has lost US$ 2 billion trying to compete with DiDi Dache and Kuaidi Dache. DiDi acquired Uber China for a valuation of US$ 35 billion. With the sale of Uber China to DiDi, Uber received 5.89% of DiDi.