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Episode 31: The Uber - Didi Chuxing Merger with Brad Stone, author of The Upstarts & The Everything Store by Ben Gilbert and David Rosenthal

Episode 31: The Uber - Didi Chuxing Merger with Brad Stone, author of The Upstarts & The Everything Store

from Acquired

by Ben Gilbert and David Rosenthal

Published: Wed Mar 01 2017

Show Notes

Topics covered include:

  • The global surge in 2012of entrepreneurs starting ridesharing companies, nowhere moreso than China
  • Didi CEO Cheng Wei and investor Wang Gang’s backgrounds at Alibaba, first entrepreneurial effort in Momo, and Momo’s pivot to Didi Dache
  • The culling of the ridesharing herd in China down to Didi Dache and Kuaidi Dache through brutal competition and involvement of the “big three” Chinese internet companies
  • Rise of the Chinese messaging apps and associated mobile payments, and their impact on ridesharing
  • The 2015merger between Didi and Kuaidi, brokeredin part by Russian VC Yuri Milner
  • Uber’s decision to enter the Chinese market, and early success with investment and support from Baidu
  • The first meeting between Uber CEO Travis Kalanick and Cheng Wei in 2015—whichdoes not go well
  • Subsequent “scorched earth” competition between Didi and Uber throughout 2015-16
  • Negotiatingan armistice: Uber’s agreement to sell its Chinese operations to Didi in late 2016
  • Endof the war, or just the beginning? January 2017:Didiinvests $100M in Brazilian Uber competitor 99
  • Sustainable growth, and building moats versus scorching earth

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