Thursday, July 29

Didi

China, Cybersecurity, Didi, full truck alliance, IPO, Markets, MI Exclusive

Didi has fallen a stunning 52% since its US IPO as China’s crackdown pummels the ride-hail giant

FILE PHOTO: The logo of Didi Chuxing is seen at a Didi station in Beijing Reuters Didi is vying for China's worst US IPO this year as its stock has lost more than half its value. Not long ago, Didi was eyeing a $70 billion. Less than a month from its debut, it is now worth less than $40 billion. Didi has been spared the title of worst IPO this year by RLX Technology, a vaping company that has fallen 78%. See more stories on Insider's business page. Didi is vying for China's worst US IPO this year as the besieged ride hailing company's stock has lost more than half its value.Compared to the market open price on the day of its IPO, Didi has crashed as much as 52.1% on Friday. The company's IPO listing price was $14, but the stock opened at $16.65 on its first day of trading. It no...
China, Didi, Negocios, Noticias, Xi Jinping

Chinese government harshly intervenes on DiDi | Digital Trends Spanish

The Government of China does not want to give any centimeter of advantage to DiDi. This Friday it was found that the Cyberspace Administration (CAC) of Xi Jinping's mandate accessed the offices of the mobility company en masse to review their organizational structures. All this after the transport company went public in New York, which provoked the suspicions of the Communist Party of the Asian giant. In a release it is established that the DiDi central building was accessed by “regulators that include the CAC, the Ministry of Public Security, the Ministry of State Security, the Ministry of Transport, the Ministry of Natural Resources, the State Tax Administration and the State Administration for Market Regulation ”. All of this comprehensive review comes under China's new Data Securit...
China cybersecurity review, China police, Didi, Didi Chuxing, Didi cybersecurity review, Didi stock price, Markets, MI Exclusive, Ride-hailing services

Didi falls as Chinese officials send police to offices as part of sweeping cybersecurity probe

A receptionist looks up from an office for drivers of Didi in Beijing. AP Photo/Ng Han Guan Didi shares dropped Friday after police and other regulators went to the ride-hailing app operator's offices in Beijing. The Chinese government sent a task force of seven units including the internet regulator for the on-site visit as part of a cybersecurity review. Didi shares have slumped in the wake of the review, which was first launched earlier this month. See more stories on Insider's business page. Shares of Didi dropped Friday after reports that police in China went to the offices of the ride-hailing company as part of a cybersecurity review that was launched just after Didi raised $4.4 billion in an initial public offering in New York. A task force of seven ministries including...
BI Commentary, China, Chinese Communist Party, columnist, Didi, Economy, Finance, Hong Kong, IPO, Markets, Military & Defense, New York Stock Exchange, Opinión, Politics, stock market, Tech Insider, US-China rivalry, Xi Jinping

China’s’wolf warrior diplomacy’ has come to Wall Street

China's assertive, nationalistic behavior — known as "wolf warrior diplomacy" — has come to the financial markets. This week Beijing punished a Chinese tech company that listed on the New York Stock exchange, and announced rules to govern all Chinese companies listed abroad. Consider this part of the Chinese Communist Party tightening its grip on power at home, and closing its doors power from abroad. This is an opinion column. The thoughts expressed are those of the author. See more stories on Insider's business page. It was only a matter of time before Beijing's heightened nationalism came to Wall Street.T...
aplicaciones, China, datos de usuarios, Didi, Estados Unidos, Noticias, Tendencias, tienda de aplicaciones

China blocks DiDi for misuse of user data | Digital Trends Spanish

The Chinese government ordered the app store owners to expel DiDi through an order issued by the CAC (Office of Cybersecurity Review of the People's Republic of China). According to the Chinese cyberspace regulator, the company has likely collected personal data from users to store it outside the country. The ban was announced last weekend, and the administration cited serious violations in DiDi Global's collection and use of personal information. This determination comes two days after the regulator announced that it was going to initiate a review of the company's cybersecurity. This means that China's largest app stores, operated by companies like Apple and smartphone makers Huawei Technologies and Xiaomi, are forced to remove DiDi from their platforms. The regulatory body ordered DiD...
China, Data Collection, Didi, Lyft, Markets, Privacy, Regulations, Ride-hailing services, Tech, Tech Insider, Uber, weekend BI US

China orders the removal of the Didi app from stores, accusing the ride-hailing company of illegally collecting personal data

Chinese regulators' suspension of the Didi app comes days after the company's New York IPO. China's cyberspace agency accused the company of "serious violations" of in both collecting and using personal data. The company has said it would comply with the ban and make required changes. LoadingSomething is loading. ...
Didi, Didi IPO, Didi stock, IPO, ipo 2021, Markets, MI Exclusive, Ride hailing apps, stock market, stock market 2021, Trading

Didi soars 28% in the largest IPO debut for a Chinese firm since Alibaba, valuing ride-hailing firm at $86 billion

President of Didi Liu Qing and CEO of DiDi Cheng Wei and at the D1 launch event in Beijing on November 16, 2020. Xin Yue/Huanqiu.com/VCG via Getty Images Shares of Didi soared as much as 28% in its IPO debut on Wednesday, lending the Chinese ride-hailing platform a valuation of about $86 billion.The firm priced its IPO at $14 per share and raised about $4.4 billion in proceeds, making it the largest IPO for a Chinese firm since Alibaba in 2014. At the IPO price, Didi was valued at about $67 billion. The company sold 317 million shares , and had guided for an IPO price range of $13-$14.Didi is the second largest ride-hailing app by market value in the world. Uber currently sports a valuation of about $93 billion, while Lyft trades at a $20 billion valuation. The company generated ...