China's ride-hailing giant DiDi files to go public; made $6 billion in revenues this quarter

DiDi turned a profit this quarter.


Alfred Lee

11 Jun, 2021

China's ride-hailing giant DiDi files to go public; made $6 billion in revenues this quarter | BEAMSTART News

DiDi Chuxing, China's largest ride-hailing giant, has just filed to go public.

The company has been growing at a very aggressive pace, turning profitable on the back of $6.4 billion of revenue this quarter.

Key Highlights

  • DiDi filed to go public on Thursday, making it potentially the largest "tech IPO" of 2021.
  • The company generated $6.4 billion in revenues for the current quarter.
  • DiDi is also profitable this quarter, turning over a net income of $837 million.

Why It Matters

  • DiDi has been aggressively expanding, even outside of China.
  • The company currently operates in 15 countries, and holds stakes in competitors such as Grab (Southeast Asia).
  • Uber currently 12.8% in DiDI, while SoftBank's Vision Fund holds 21.5%.
  • DiDi was worth $62 billion as of their August's fundraising round.

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