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Monday, 11 January 2016, 19:43 HKT/SGT
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Didi Kuaidi Completed 1.43 Billion Rides in 2015; China becomes the World's No.1 Rideshare Market

BEIJING, Jan 11, 2016 - (ACN Newswire) - Didi Kuaidi (Didi Chuxing) today announced that in 2015 the company registered a total of 1.43 billion completed rides across its 7 main services including private car, taxi, Hitch, designated driver, Didi bus, test drive and enterprise services.

This number is nearly twice the total number of taxi rides in the United States in 2015, and 1.4 times Uber's global rides in the past six years since its launch in 2009(1). Didi's completed monthly rides, exceeded 200 million in December 2015, higher than the total number of rides hailed in New York for the entire year of 2015(2).

2015 is a landmark year of rapid growth for Didi. As its user base expanded to over 250 million, the company has been following an effective diversification strategy since the Didi-Kuaidi merger, and quickly established market leadership across a portfolio that covers multiple services including express, Hitch, designated driver, bus and enterprise services. According to a recent research published by China Internet Network Information Center, Didi holds 87.2% of China's private-car hailing market. Other industry sources recognize Didi as China's and the world's largest mobile-based transportation platform(3).

China experienced significant development in its overall mobile transportation market in 2015. Within past three years, mobile-based transportation has transformed traditional way of travel into a world-leading innovative industry. During the blizzard on November 23, for instance, Didi processed over 1 million private car requests in Beijing alone, representing eight times the number of daily private car rides counted in New York(4). Statistics find user support rate for internet rideshare industry is as high as 86.7% in China's core tier 1 and tier 2 cities(5). China has become the world's largest mobile transportation market in terms of the number of drivers, passengers and rides.

CHENG Wei, founder and CEO of Didi, says the company will focus on applying its data-mining capability to vertical capacity enhancement. "We could go from hailing a car to hailing a seat when our ride-pooling is introduced into taxis, private cars, and Hitch. We spent three years linking up urban mobility options on our mobile platform. In the next three years, big data and artificial intelligence capabilities will enable us to maximize the efficiency of all these tools."

Didi believes that the mobile transportation market will continue to experience robust growth as market structure stabilizes and the idea of sharing economy gains further recognition in China.

*
(1)IBISWorld, Statistic Brain
(2)New York Taxi & Limousine Commission
(3)CNNIC, 'Special Report on the Development of Internet-Based Private-Car Hailing'
(4)New York Taxi & Limousine Commission
(5)Horizon-Unirule China Public Governance Index



Jan 11, 2016 19:43 HKT/SGT
Topic: Press release summary
Sectors: Financial, IT Individual, Business
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