Founded in 2012, Didi Chuxing began its life in Shanghai as an application based taxi service. Within two years, the company grew to represent 55 percent of China’s ride-hailing market. The firm’s services have proven so popular within its domestic market, it acquired the Sino segment of Uber in 2018.
Now, the startup serves over 550 million people with 30 million drivers and has been valued at $62 billion.
Having found remarkable success in its home region, Didi Chuxing has pursued an aggressive global expansion plan. Presently, the startup offers its ride-hailing services in Brazil, Chile, Colombia, and Mexico. The firm also began a Russian recruitment drive in January ahead of its deployment in that region.
Notably, the company has expanded its range of services along with its geographical footprint. In addition to transportation and food delivery, the firm also provides bike-sharing, automobile leasing, car rental, and financial services products. While the business’s rapid expansion of offerings is ambitious, it also gives the concern multiple parallel revenue streams.
The startup has also taken an interest in developing self-driving vehicle technology. Last summer, The Burn-In reported Didi Chuxing began testing its autonomous car solution in Shanghai. The firm kicked off its pilot program by deploying 30 Level 4 driverless cars in the region.
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