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Didi shows that China s tech giants must first answer to Beijing taipeitimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from taipeitimes.com Daily Mail and Mail on Sunday newspapers.
DiDi shows all Chinese tech giants must first answer to Beijing
Visitors pass a sign for Chinese ride-hailing service DiDi at the Global Mobile Internet Conference in Beijing in 2017. Didi Global Inc. holds vast amounts of sensitive data from half a billion annual active users, mostly in China.
(Associated Press)
Bloomberg
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To the world’s investors, the saga over DiDi Global Inc. has made China’s biggest tech companies a riskier bet as President Xi Jinping seeks to control one of the country’s most valuable resources: Big data.
DiDi is by most measures an appealing success story. The company controls almost the entire ride-hailing market in China and counts SoftBank Group Corp. and Tencent Holdings Ltd. as major shareholders. DiDi was actually profitable in the first quarter, a rarity for the industry. Its initial public offering of stock last week was the second-biggest in the U.S. by a company based in China, and it was well received. DiDi sold 317 million
To the world’s investors, the saga over Didi Global Inc. has made China’s biggest tech firms a riskier bet as President Xi Jinping seeks to control one of the country’s most valuable resources: Big data.
Didi is by most measures an appealing success story. The firm controls almost the entire ride-hailing market in China, and counts SoftBank Group Corp. and Tencent Holdings Ltd. as major shareholders. Didi was actually profitable in the first quarter, a rarity for the industry. Its initial public offering last week was the second-biggest in the U.S. by a company based in China, and it was well received. Didi sold 317 million shares about 10% more than originally planned.
Ride-hailing app Didi s saga shows Beijing wants full control | Business and Economy News aljazeera.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aljazeera.com Daily Mail and Mail on Sunday newspapers.