DiDi, the Chinese ride-hailing company, has begun the process with US stock market authorities to launch an initial public offering (IPO), which could be the largest this year on US stock markets. DiDi plans to raise around US$10 billion with this IPO, which would put the company's market value at US$100 billion. Thirty percent of the funds raised would be used to strengthen the company's international expansion (DiDi operates in 15 countries, including Chile, but currently only one-tenth of its revenue comes from outside China) and another 30% to support the development of its electric and autonomous vehicle division. DiDi was created in 2012 and four years later acquired Uber's operations in China, ceding 12.8% of its ownership to the US company. It has around 500 million users in 4,000 cities around the world. In 2020, DiDi reported revenues of $22.2 billion, double that of Uber, although, as the Wall Street Journal pointed out, DiDi includes its drivers' revenues in its sales.

Source: Statista