Meet DiDi: China's Answer To Uber
For better or worse, just about everybody has heard of Uber. Over the last few years, the ride-haling company has grown to dominate the market in the U.S. and beyond, currently operating in over 400 cities around the globe – despite significant resistance and outright bans in some places. DiDi, on the other hand, is unlikely to be on your radar. Having bought out Uber’s operations in China last year, the company currently enjoys 95 percent market share in its home country.
As Statista’s Martin Armstrong notes, the infographic below shows if it were to come to a game of Top Trumps, DiDi wouldn’t be such a bad card to hold.
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Founded in 2012, and working on the basis of almost $16 billion worth of funding, it has amassed 38.5 million monthly users (compared to Uber’s 40), is active in around 400 cities and is valued at $50 billion.
As illustrated in the Statista report ‘The Chinese Passenger Car Market Outlook’, revenue from ride sharing in China is projected to see a CAGR of 32 percent from 2016 to 2021. Likewise, the number of users is expected to grow by 15 percent.
As Uber begins to falter and face stiffer competition from alternatives like Lyft, it might not be long before DiDi is the biggest ride hailing company in the world.