Why is DiDi closing down?
Why is DiDi closing down? On July 4, the regulator made an announcement claiming Didi had illegally collected and used riders' personal data, and ordered app stores to remove the app.
Is DiDi owned by China?
Didi was founded as Didi Dache in Beijing in 2012 as a taxi-hailing app, later adding private hire. Backed by influential investors, including the internet giant Tencent, it grew rapidly and, in 2015, merged with its competitor Kuaidi Dache, which had investment from another of China's biggest tech companies, Alibaba.
Why did Uber lose to DiDi?
Uber and DiDi, two of the leading ride-hailing services in the world, entered the Chinese market in 2014 and competed fiercely for market share. Despite investing more than USD 1 billion a year, Uber was unable to overcome DiDi's aggressive investment and marketing strategies and consequently merged with DiDi in 2016.
Can you still trade Didi?
Shares in ride-hailing giant Didi, which delisted from the New York Stock Exchange a year ago, can now be bought via a platform provided by OTC Markets Group, a U.S. financial services company.