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China’s Ride-hailing Giant Didi Chuxing Submits IPO Prospectus

On June 11, China's rise-hailing giant Didi Chuxing formally submitted its IPO prospectus to the SEC. In the 12 months ending March 31, 2021, Didi had 493 million global annual active users and 15 million global annual active drivers.

On June 11, China’s rise-hailing giant Didi Chuxing formally submitted its IPO prospectus to the SEC. In the 12 months ending March 31, 2021, Didi had 493 million global annual active users and 15 million global annual active drivers. Didi disclosed in the prospectus that it plans to use about 30 percent of the fundraising to expand its business in international markets outside of China; 30 percent to enhance the use of shared travel and electric vehicles and autonomous driving; as well as 20 percent to launch new products and expand existing product categories。

The document revealed that as of March 2021, Didi has been operating in more than 4,000 cities and towns in 15 countries, including China, providing online ride-hailing, taxis, ride-hailing, shared bicycles, shared motorcycles, on-demand driving, car service, freight, finance and autonomous driving. The company has defines the “four core strategic sectors” to build the future of mobility: shared mobility platforms, car service networks, electric vehicles, and autonomous driving.

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