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Tiger Global Notches $1 Billion Win on Ride-Hailing App Didi

Tiger Global Notches $1 Billion Win on Ride-Hailing App Didi
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Didi IPO Ambition Marred by China Crackdown, Cash Burn Fears

Didi IPO Ambition Marred by China Crackdown, Cash Burn Fears Bloomberg 2 hrs ago Coco Liu, Abhishek Vishnoi and Ishika Mookerjee © Bloomberg Didi Chuxing s Ride-Hailing Service as Uber Said to Seek Partial Sale of $6.3 Billion Stake (Bloomberg) Didi Global Inc. is on the cusp of pulling off one of the biggest U.S. initial public offerings of the past decade, the culmination of five years of battling first Chinese regulators and then Covid 19. Now Beijing again threatens to spoil the party. Popular Searches Didi, the scrappy upstart that defeated Uber Technologies Inc. in 2016 before embarking on an ambitious international expansion, aims to raise as much as $4 billion in New York. But like its one-time foe, the car-hailing giant has had to settle on going public at a far lower market value than previously targeted.

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Hubert Horan: Can Uber Ever Deliver? Part Twenty-Four: Uber Loses Another $6 8 Billion

Yves here. Hubert Horan continues his chronicle of the deterioration of Uber’s finances. And you can only blame so much on the pandemic. By Hubert Horan, who has 40 years of experience in the management and regulation of transportation companies (primarily airlines). Horan has no financial links with any urban car service industry competitors, investors or regulators, or any firms that work on behalf of industry participants Last Thursday, Uber announced a full year 2020 GAAP loss of $6.8 billion with a GAAP net margin of (-60%). As discussed in the context of the mid-year results presented in Part 23, [1] Covid-19 significantly reduced Uber revenues, just as the pandemic has devasted dozens of other urban services and transport businesses.

New yorkUnited statesPreetika ranaAmir efratiEmily changClaire millerKia kokalitchevaDan primackPavel alpeyevHubert horanErin griffithSam abuelsamidLizette chapmanCade metzMike isaacKate conger