There was a time when Uber was launched in the United States as a ride-hailing service. Over time, Uber evolved and expanded its business beyond the ride-hailing space. The company started offering delivery services as well as other utilities to the customers.
Now, a similar company is aiming to offer the same services to the customers and clients in its region. The name of the Uber-like startup is Didi Chuxing, which is a ride-hailing service like Uber in Chin. However, the company has announced that it does not want to limit its services to ride-hailing.
Just recently, the executives at Didi Chuxing have revealed that they want to offer much more than just a ride-hailing service. The company is hoping to multiply its utilities in terms of daily life aspects. The company wants to offers services that range from finance all the way to grocery shopping.
The company is also aiming to launch its service all over the world and gain worldwide recognition. The reports suggest that Didi had recently filed a request for an Initial Public Offering at the US SEC. The sources have revealed that Didi had filed the request at the SEC on Thursday, June 10, 2021.
In the request, Didi Chuxing has stated that it wants to launch the Initial Public Offering (IPO) through the New York Stock Exchange (NYSE). If the request is approved by the SEC, it would turn out to be the largest Initial Public Offering in the world for the running year.
It is to be clarified that despite the kind of services, Didi Chuxing does not consider itself a rival of Uber. Instead, the company has full backing and support from Uber.
Didi Chuxing was founded back in 2012 and since then, it has managed to get itself ranked among the five largest companies in the world as a privately held startup. Some of the major companies that have invested in Didi Chuxing are Tencent, Uber, and SoftBank.
At present, the primary business that Didi Chuxing runs in China is ride-hailing that the users request through their smartphones. The company has been doing a lot of business in China as it successfully generated a revenue of $20.4 billion. On the other hand, the company also faced $1.62 billion worth o net loss in the same year 2020.
On the other hand, the company is also running other businesses under the same brand name and has been gaining a lot of success with it. The company has reported that the revenue it has generated in the first quarter of 2021 from services other than ride-hailing has increased by 5%.
However, in the entire year of 2020, Didi generated 4% revenue from other initiatives, while it was just 1.2% for the year 2018.
