This Chinese giant, which is going to be listed in the US stock market, will give competition to Uber

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Didi US IPO: The name of the founder of Didi Company is Wei Cheng and he expects that the company will be able to collect a fund of 10 billion dollars i.e. 70 thousand crores if listed in the US stock market.

The company’s valuation is estimated to be $100 billion.

Didi US IPO: China’s largest cab aggregator company ‘Didi’ or in other words, Chinese Uber is preparing to be listed on the US stock market. In the information given to the US Security Exchange Commission, Didi said that in the year 2020, the company’s total revenue was $ 21.60 billion. It has declined by 8.4 percent on a yearly basis.

The name of the founder of Didi Company is Wei Cheng and he expects that the company will be able to collect a fund of 10 billion dollars i.e. 70 thousand crores if it is listed in the US stock market. Reuters quoted sources as saying that the company’s valuation is estimated to be $ 100 billion. The company had put its value at $ 60 billion in 2018. On that basis it is 65 per cent higher. It is believed that after the listing in the US market, there will be a sudden jump in the assets of the company’s promoter and founder Cheng Wei.

The company was established in 2012

Chinese Didi was established in 2012 and serves 4000 cities and 15 cities. The number of its aquit users is about 49.30 crores. According to the data available till 31 March 2021, 41 million i.e. 41 crore transactions are done through this app on a daily basis. Didi Company is also recognized as the company that drove Uber out of China. Till 2016, both Didi and Uber companies used to provide cab service in China, but after increasing the price war, Uber sold its business to Didi. Uber currently holds 12.80 percent stake in this company.

Company’s revenue doubled

China has completely recovered from the epidemic and is the only economy in the world where a spectacular recovery is being seen. In the first quarter of the current financial year, the company’s revenue more than doubled and stood at $ 42.20 billion. There was a decline in the company’s revenue in the first quarter of 2020.

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Bhagyashree Soni
Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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