Ben Gilbert and David Rosenthal
Every company has a story.
Acquired goes behind the scenes of the biggest tech IPOs and acquisitions of all time.
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Episode 31: The Uber - Didi Chuxing Merger with Brad Stone, author of The Upstarts & The Everything Store
March 1, 2017
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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
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
Stay tuned for real-time coverage of the Snap IPO coming here on Acquired!
The Carve Out:
Taming the Mammoth
on Wait But Why
Conversations with Tyler
Podcast by Tyler Cowen, co-author of the
Brad: Yuval Noah Harari (author of
)’s new book,
Homo Deus: A Brief History of Tomorrow
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