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DiDi’s defiant IPO in New York

DiDi is the top dog in the Chinese market for ride services. But just before its planned IPO, the authorities are putting the company through the mill. Defiantly, DiDi is expanding its international presence. Its base, however, remains its home country. Here, the company wants to profit from increased mobility and urbanization.

By
Ning Wang
Image of Ning Wang

The reaction is pragmatic and even surprisingly offensive. The Chinese ride service provider DiDi Chuxing is currently suffering from attacks by China’s regulatory authorities. Now the company is planning an IPO – and is being emphatically open about its regulatory problems. DiDi bluntly lists all potential charges it could face from the State Administration for Market Regulation (SAMR) in Beijing. These include violations of the antitrust law and “unfair competition methods”.

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