Episode 31: The Uber - Didi Chuxing Merger with Brad Stone, author of The Upstarts & The Everything Store
Published March 1, 2017
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69 min
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    Topics covered include:
    • The global surge in 2012 of 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 2015 merger between Didi and Kuaidi, brokered in 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—which does not go well
    • Subsequent “scorched earth” competition between Didi and Uber throughout 2015-16
    • Negotiating an armistice: Uber’s agreement to sell its Chinese operations to Didi in late 2016
    • End of the war, or just the beginning? January 2017: Didi invests $100M in Brazilian Uber competitor 99
    • Sustainable growth, and building moats versus scorching earth
     
    Followups:
    • Stay tuned for real-time coverage of the Snap IPO coming here on Acquired! 
     
    The Carve Out:
      15
      15
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