ReutersAfter a $4.4 billion IPO in New York, Didi’s founders are looking to expand globally. Will Wei Cheng has overcome numerous obstacles on his way to bringing Didi Global Inc public in a $4.4 billion New York float, from working at a foot massage company to founding China’s largest ride-hailing startup. Cheng faced difficult competition, strong criticism for Didi following rape and murder cases linked to its drivers in 2018, and a COVID-19-induced slowdown at home as he advanced to the top echelons of Chinese technology entrepreneurs. While Cheng and co-founder Jean Qing Liu are celebrating the largest share sale by a Chinese business in the United States in seven years, which values Didi at $67.5 billion, analysts warn the issues are unlikely to go away very soon./n
Read More
