Tag: Didi

Uber slides 4% on report SoftBank will shed a third of its stake in the ride-hailing app

Photo by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images Uber’s stock fell 4% on Thursday after CNBC reported SoftBank is offloading a large stake in the firm. The latest share sale could take SoftBank’s holdings in Uber to less than 100 million shares. Reports say the decision is unrelated to SoftBank’s $4 billion loss from its… Continue reading Uber slides 4% on report SoftBank will shed a third of its stake in the ride-hailing app

Autos & TransportationDidi Global denies media report it plans to go private after $4.4 bln New York IPO12:17 PM UTC

The logo for Chinese ride-hailing company Didi Global Inc is pictured during the IPO on the New York Stock Exchange (NYSE) floor in New York City, U.S., June 30, 2021. REUTERS/Brendan McDermid/File Photo July 29 (Reuters) – Ride-hailing company Didi Global (DIDI.N) on Thursday denied a media report that the company was considering going private… Continue reading Autos & TransportationDidi Global denies media report it plans to go private after $4.4 bln New York IPO12:17 PM UTC

Ride-hailing firm Didi Global considers going private to calm China

China‘s Didi Global is considering going private to placate Chinese authorities and compensate investor losses since the ride-hailing firm listed in the United States, the Wall Street Journal reported on Thursday. The company has been mulling delisting plans as crackdown in China widens and it has received support from cybersecurity regulators, according to the report, which cited people familiar with the matter. The… Continue reading Ride-hailing firm Didi Global considers going private to calm China

China tech crackdown wipes out billions from Didi, other US-listed cos

Didi Global Inc shares slumped as much as 25% in U.S. pre-market trade on Tuesday, ahead of its first session since Chinese regulators ordered the company’s app be taken down days after its $4.4 billion listing on the New York Stock Exchange. The ride-hailing giant’s app was ordered to be removed from mobile app stores in China on Sunday by… Continue reading China tech crackdown wipes out billions from Didi, other US-listed cos

Chinese ride-hailing company Didi became a retail favorite on its first day of trading

Reuters/Jason Lee Reuters/Jason Lee Didi has become a retail-investor favorite on its first day of trading, Fidelity data show. The stock topped retail buys in Exela Technologies and AMC Entertainment. Shares of the Chinese ride-hailing company surged as much as 28% during its IPO Wednesday. See more stories on Insider’s business page. Chinese ride-hailing company… Continue reading Chinese ride-hailing company Didi became a retail favorite on its first day of trading

Founders of Chinese ride-hailing firm Didi eye global growth after $4.4b IPO

From working at a foot massage company to setting up China’s biggest ride-hailing firm, Will Wei Cheng has navigated several hurdles on the path to taking Didi Global Inc public in a $4.4-billion New York float. As Cheng rose to the upper echelons of Chinese technology entrepreneurs, he faced challenges including tough competition, intense criticism for Didi after rape and murder cases linked to its drivers… Continue reading Founders of Chinese ride-hailing firm Didi eye global growth after $4.4b IPO

Chinese ride-hail giant Didi is reportedly eyeing a $70 billion valuation for its upcoming US IPO

CEO of DiDi Cheng Wei at the D1 launch event in Beijing on November 16, 2020. Xin Yue/Huanqiu.com/VCG via Getty Images Didi Chuxing is set to IPO in the US at a valuation of up to $70 billion, according to the Wall Street Journal. Didi controls much of the Chinese ride-hailing market, after a bruising… Continue reading Chinese ride-hail giant Didi is reportedly eyeing a $70 billion valuation for its upcoming US IPO