The global competition for online cars continues, in Uber’s most profitable Latin America, DIDI has surprisingly overtaken?

On June 11, DiDi Travel formally submitted its listing documents to the SEC, arousing outside attention. And according to the prospectus disclosure, Drip plans to use about 30% of the fundraising amount for the development of international business. Already in the Latin American market to open up the territory of the drop, the future performance on the global stage is obviously more worth looking forward to.

Playing back to Uber’s home base

Many will look at DiDi’s acquisition of Uber China in 2016 as a milestone event. Taking down the global online car representative brand locally was almost impossible to accomplish given the situation at the time.

Cheng Wei once broke the news at the 2015 Yabuli Summer Summit that when Drip first started, Uber president Travis Kalanick had come to China to negotiate with Drip, and Drip either accepted Uber’s investment of 40% of the shares to be incorporated or had to be defeated by Uber. Cheng Wei refused.

Uber came to China with its proven successful operations in many countries and a huge amount of cash, and launched a war against Drip with “one yuan for the whole journey”. It was higher than the market value of DDT at that time.

The foreign enemy came to China with advanced technology and equipment, a situation not unfamiliar in Chinese history, and Cheng Wei asked Liu Chuanzhi for advice, who advised him to play guerrilla warfare and give play to local advantages. After a short period of panic, Drip urgently went online with a mode of operation more suited to China’s local area, shifting from a grab-order mode to a dispatch mode, and also introducing services such as hitchhiking and chauffeured driving, eventually defeating, and acquiring, the other side.

History has once again proven that no one can beat the Chinese on Chinese soil.

The global competition for online cars continues, in Uber's most profitable Latin America, DIDI has surprisingly overtaken?

Promoting “localization” around the world

To the surprise of Uber and the world, DiDI, which has defeated its rival in China, has taken the initiative to open up an international business.

In 2018, DiDI landed in Mexico and quickly reached 18 million users in 1,600 cities in Latin America. Latin America is the most profitable region for Uber, while Drip was hit by the global epidemic soon after it started. With the epidemic in front of them and the Pacific Ocean behind them, Drip was once again faced with a serious challenge.

Once again, Chinese wisdom and strength came into play. Cheng Wei Liu Qing accurately judged that, regardless of which country, the demand for safety and good travel is similar. While torn over whether to wear a mask or not abroad, the Drip net car galloping through the streets of Latin America carried a full set of advanced equipment left behind by China’s fight against the epidemic:

The drivers wear Chinese made masks, the cars are equipped with protective films proven to be effective in China, daily disinfection, AI means to verify that drivers are wearing masks, and passenger side reminders are also available. A set of seemingly cumbersome processes hit the most essential needs of people under the epidemic, and three years after entering the Latin American market, DiDI overtook Uber in Mexico.

The global competition for online cars continues, in Uber's most profitable Latin America, DIDI has surprisingly overtaken?

Cheng and Liu Qing’s founders’ letter reveals that over the past three years, DiDI has launched operations in 15 countries and regions around the world, employing thousands of local employees in Africa, Asia Pacific, Europe and Latin America, and serving 60 million global users.

Next, 30% of the fundraising will be used to develop international business and 30% for technology investment. Drip brings convenient and fast travel services to Chinese and foreign users, and is also creating a larger and more valuable travel ecosystem, Cheng Wei Liu Qing said in the founders’ letter.

“We aspire to be a truly global technology company. Although we started at home, we believe we have the ability to help more people live better. We believe these lessons and the model we are building are universally applicable: people across Latin America also place a high value on safety; Russian users want more affordable travel options; and in South Africa, drivers want to work with platforms that respect them and help them earn more.”

The global competition for online cars continues, in Uber's most profitable Latin America, DIDI has surprisingly overtaken?

We are pleased to see a brand new story being told in this era. In recent years, Chinese national enterprises have continued to emerge in the world. From learning to operate behind the giants at the beginning to gradually becoming a representative enterprise leading the development of the global industry, their status has changed, but the social responsibility and commitment they carry have also increased. While it is important to leverage more markets, Drip is also responsible for fulfilling the dreams of global users about a better life.

The application for listing is the beginning of a new journey for DiDi. The road to the world is still long, and as Cheng and Liu Qing said in their founders’ letter, “We will continue to struggle”.

Posted by:CoinYuppie,Reprinted with attribution to:
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