Many of today's companies, especially Internet companies, start with entrepreneurial financing, and the biggest goal is to go public, and the faster the better. For example, the previous Luckin Coffee, which was listed only one and a half years after its establishment, was called the fastest IPO in the world, but it also became the fastest Chinese stock to delist at that time because of financial fraud. However, now the title of "the fastest delisting of Chinese stocks" may be followed by someone, which is Didi, which has just been listed in the United States in mid-2021.
From the listing in June to the announcement of delisting in December, the time experienced in the middle is less than 180 days, although it has not yet been officially delisted, but from its official response, it seems that delisting from the US stock market is already a foregone conclusion. Recently, Didi has also once again disclosed the relevant information of returning "beauty" to "Hong Kong". However, what has attracted more attention from investors is the two financial reports released for the first time since its listing.
According to the financial report, Didi's loss in the third quarter of 2021 was as high as 30.6 billion, affected by this, Didi's stock price continued to decline, the current total market value is only 24 billion US dollars, compared with the beginning of its listing, the market value has fallen by 65%. This can't help but make people wonder, is the taxi business so difficult to do?
Sitting on 100 million users, swallowing up fast, Uber, one big
When it comes to ride-hailing software, Didi has become the first word that pops up in the minds of many ride-hailing regulars, but today's Didi can be said to be a merger of three companies. Didi was founded in July 2012 and operated in Beijing two months later. However, at that time, there was also a fast taxi, which was established two months earlier than Didi, but its base camp was in Hangzhou. Since then, the two companies have embarked on a tug-of-war for nearly three years.
At the same time that the two local companies were fighting hotly, foreign travel giant Uber also took the opportunity to infiltrate, and the taxi market at that time could be said to be three-legged, not only users felt the discount, but many drivers also got a lot of wool because of it. However, even if the enterprises intend to fight each other, the investors behind them cannot resist. So in 2015, didi and kuaidi formally merged, at that time Didi had Tencent behind it, and Ali behind Didi, which was able to complete the merger in this case, which showed how serious the burning money situation was at that time.
After the merger of the two companies, the number of users has exceeded 100 million, and the average daily single volume has reached 5.21 million, becoming a unicorn in the domestic travel industry. Therefore, after a year, with the crushing momentum, Didi once again annexed Uber China. Since then, although Cao Cao and Shenzhou have remained active, they can no longer be compared with Didi.
Breaking the circle to do takeaway play group buying, causing a huge loss of 20.8 billion
In fact, no matter which industry, to a certain extent, there will be performance anxiety. This is also why so many companies like to rub the heat, and giants such as Ali Tencent want to stare at a small business of selling vegetables. As recently as 2018, Didi's announced financing amount had exceeded $15 billion, but similarly, its annual loss was as high as 15 billion yuan.
Therefore, in the face of the Meituan's grab of the taxi cake, Didi chose to enter the takeaway to counteract, and even once became the first platform for takeaway in Wuxi, crushing the Meituan. Similarly, since the business is to be grabbed to the end, when the US group began to enter the community group purchase, Didi did not want to show weakness and did the orange heart preferred. However, it was the matter of entering the orange heart that made Didi suffer a big loss.
As mentioned earlier, in the third quarter of 2021, Didi lost 30.6 billion yuan, of which the main business travel business only lost 0.29 billion yuan, accounting for the majority of the loss, but the side business investment loss, a total loss of 20.8 billion yuan, most of which was lost by Orange Heart. The main business has not been able to make stable money, but it wants to develop a side business, and now the stock price is in a slump. Didi can be said to have trapped investors such as SoftBank, Tencent, and Ali.
Alibaba Daniel Zhang exited, losing 210 million orders in a single quarter
At the same time, most notably, Ali CEO and chairman of the board of directors Daniel Zhang also resigned as a director of Didi after Didi announced its financial report, and at the same time sent Zhang Yi, senior legal director of Alibaba, as a director of Didi. Such a personnel exchange makes people reverie, perhaps Ali no longer wants to be angry because Didi is wrong, send a "lawyer" to watch, it is always a matter of peace of mind.
As for Didi's business growth, we can also see it from its published financial reports. In terms of daily order volume, Didi has fallen by 2.33 million orders in the third quarter compared to the second quarter, and the total order volume has lost 210 million orders, nearly 9% of the quarter, most of which have been divided by T3, Hello, Cao Cao Travel, Meituan Taxi, etc.
At present, the investigation of Didi by the relevant departments has not yet ended, and there is no clear end time, according to such an order loss, perhaps in the taxi market will usher in the scene of "one drop of death, ten thousand drops of life". Didi's experience this year has also given the latecomers a wake-up call, if you want to develop steadily, abiding by the rules is the first priority.