Mark Bergen for Recode, summarising comments made at Recode’s Code Conference by Didi president Jean Liu:
That’s absolutely crazy - four times! Goes to show that while their economy might be slowing down, spending is absolutely not. Almost every consumer market is flourishing. “But in China…” is becoming a tired remark when talking about tech nowadays, but it’s that real. While Uber might still be the face of ride-hailing, its market share and overall direction suggests that shouldn’t be the case in the near future. They’re being cornered very quickly… more on that later.
That’s what truly impresses me. Even four times the U.S. market isn’t enough when that’s a mere percent of the market you’re operating in.
In another article from Recode, Johana Bhuiyan details an alliance between ride-hailing/-sharing companies announced at the same conference:
Once the alliance pans out and we see more cross-booking between these companies, that would create a huge worldwide network of hail-able cars no matter where you are in the world - something Uber foolishly tried doing singlehandedly by brute-forcing their way into any market they wanted.
How the alliance will turn out in the long-term, that’s a different thing altogether. The massive potential is there, even in China alone. My guess is that Didi will eventually absorb their allies - unless they could somehow differentiate - but still somehow “glocalise”, maybe by maintaining their existing brands as they are.
That’s to say I think Didi will turn out the grand winner since the population-success correlation seems to be completely causal.