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Breaking News: Chinese ride-hailing giant Didi applies for US IPO

Chinese ride-hailing service giant Didi joins US Securities and Exchange Commission Initial public offering (IPO) is either Nasdaq or the New York Stock Exchange under the symbol DIDI, the company stated in Form F-1.

The form did not disclose the number of shares, the value of those shares, or the amount the company would raise through an IPO. Goldman Sachs of Asia, Morgan Stanley, JP Morgan and China Renaissance are listed as underwriters.

According to Crunchbase, since its establishment in 2012 Diddy raised $ 23.2 billion..

Didi operates in 15 countries and states that it had 439 million active users and 15 million active drivers in the first quarter of 2021. The company reported a loss of $ 1.7 billion to $ 21.6 billion in revenue in 2020. Miles traveled in the country last year.

In the founder’s letter provided with the paperwork, the founder of the company reflects the early days of the company.

“People are always on the move, but doing so is increasingly stressful and costly, especially in big cities. How are we trapped when transportation is not easily accessible? I had a first-hand experience of what it felt like. I started Didi because I believed that I could find a convenient, comfortable and affordable vehicle anytime, anywhere, “they write.

As the company grew, it expanded into other areas such as urban freight, community group purchases, and food delivery.

Didi is backed by SoftBank Corp., Alibaba Group and Tencent Holdings. Uber holds a 12.8% stake in Didi.



https://www.freightwaves.com/news/breaking-chinese-ride-hailing-giant-didi-files-for-us-ipo Breaking News: Chinese ride-hailing giant Didi applies for US IPO

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