Chinese ride-hailing giant Didi to launch services in Sydney by mid-March

China's largest ride-hailing platform Didi Chuxing will start to offer services in Sydney on March 16, 2020.

China’s largest ride-hailing platform Didi Chuxing will launch services in Sydney in mid-March 2020, as the company attempts to further expand its operations beyond the current seven cities in Australia.

Beijing-based Didi Chuxing, which serves almost 90 per cent of all ride-hailing bookings in China, will start to offer ride-hailing services in Sydney on March 16, 2020. The company will first deliver its carpooling service DiDi Express, and DiDi Max, which provides seven-seater vehicles to passengers, Didi Chuxing announced in a statement on Monday (February 17).

Didi, which initially entered the Australian market in May 2018, now offers three services – DiDi Max, as well as carpooling services DiDi Express and DiDi Share – in Geelong, Melbourne, Newcastle, Brisbane, Gold Coast and Sunshine Coast, as well as Perth.

“Didi’s driver-partners have served over two million riders across Australia. Introducing our services to the global economic and cultural hub of Sydney is a major milestone for our young team here,” said Lyn Ma, general manager of DiDi Australia, in the statement.

Established in June 2012 by former Alibaba employee Cheng Wei, Didi offers a range of app-based transportation services such as taxi, express, designated driving, bike-sharing, and food delivery to about 550 million users in China and worldwide. Tens of millions of drivers who find flexible work opportunities on the Didi platform provide over 10 billion passenger trips a year, shows the information on the company website.

Apart from China and Australia, Didi also has operations in Brazil, Chile, Colombia, Japan and Mexico.

The company holds stakes in ride-hailing counterparts, including Grab and Ola in Asia, Lyft in the United States, Careem in the Middle East, and Taxify in Europe.

Valued at $5.5 billion by the Hurun Global Unicorn List 2019, Didi has so far raised at least $21.2 billion through 18 investments. In the latest transaction, Toyota Motor Corp invested $600 million in Didi as well as a new joint venture in July 2019, as the companies plan to jointly develop connected and electric vehicles in China.

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.