Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 30 years of experience in the Korean/Asian equity research. Major sectors coverage include the following:
- Technology 
- Consumer 
- Special Situations/Deep Value Plays
- Tender Offers/M&As
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Initial Thoughts on the Didi Chuxing Valuation

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Softbank Group - Initial Thoughts on the Didi Chuxing IPO Filing

DiDi Chuxing Pre-IPO - One of Asia's Largest IPOs This Year - Tearsheet

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Equity Capital Markets

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<p>Didi Chuxing (Didi) is getting ready to complete its IPO in the coming weeks. The company claims to be the world's largest mobility technology platform in terms of annual active users and by average daily transactions for the 12 months ended March 2021. </p>
<p>Didi is the number player for shared mobility services in China including ride hailing, taxi hailing, chauffeur, hitch, and other forms of shared mobility. The company operates in 15 countries globally and its platform provides services to over 493 million active annual users and powered 41 million average daily transactions for 12 months ended March 31, 2021.</p>
<p><a href="https://www.ft.com/content/bb80e462-fbb9-49d1-8a87-b3ad511c1d4e" target="_blank" rel="noopener">Didi Chuxing</a> was last valued at $65 billion in a 2018 fund raising round. Major investors in Didi include Softbank which has invested more than $10 billion in this company. Softbank's Vision Funds own a 21.5% stake in Didi Chuxing, followed by <a href="https://www.smartkarma.com/entities/uber-technologies-inc" target="_blank" data-smartkarma-citation="entities:430:1" rel="noopener">Uber (UBER US)</a> with a 12.8% stake, and <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> which has a 6.8% stake. </p>
</div><p>The company's long term vision is to capitalize on AI and big data to power shared, electric, smart, and autonomous mobility networks. The company estimates the mobility service market was $6.7 trillion globally in 2020, which is expected to increase to $16.4 trillion in 2040. Shared mobility and electric vehicles penetration rates were 2% and 1%, respectively in 2020. Shared mobility and electric vehicles penetration rates are expected to reach 23.6% and 29.3%, respectively in 2040.</p>


Didi Chuxing (Didi) is getting ready to complete its IPO in the coming weeks. The company claims to be the world's largest mobility technology platform in terms of annual active users and by average daily transactions for the 12 months ended March 2021. 
Didi is the number player for shared mobility services in China including ride hailing, taxi hailing, chauffeur, hitch, and other forms of shared mobility. The company operates in 15 countries globally and its platform provides services to over 493 million active annual users and powered 41 million average daily transactions for 12 months ended March 31, 2021.
Didi Chuxing was last valued at $65 billion in a 2018 fund raising round. Major investors in Didi include Softbank which has invested more than $10 billion in this company. Softbank's Vision Funds own a 21.5% stake in Didi Chuxing, followed by Uber (UBER US) with a 12.8% stake, and Tencent (700 HK) which has a 6.8% stake. 
The company's long term vision is to capitalize on AI and big data to power shared, electric, smart, and autonomous mobility networks. The company estimates the mobility service market was $6.7 trillion globally in 2020, which is expected to increase to $16.4 trillion in 2040. Shared mobility and electric vehicles penetration rates were 2% and 1%, respectively in 2020. Shared mobility and electric vehicles penetration rates are expected to reach 23.6% and 29.3%, respectively in 2040.

DiDi Global

Didi Chuxing IPO Preview