Didi founder Cheng Wei. Photo by Didi.
Asia Apple Uber/Lyft

Didi’s Founder Presides Over Unruly Investor Group

By  |  Aug. 1, 2016 10:53 AM PDT
Photo: Didi founder Cheng Wei. Photo by Didi.

If anyone needs supervoting shares to keep control of their company, it looks to be Didi Chuxing founder Cheng Wei.

Didi’s purchase of UberChina is just the latest in a series of mergers that Mr. Cheng has undertaken to create a $35 billion ride-sharing giant in China. That string of deals has created a potent mix of investors in the company.

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
The Briefing Facebook Uber/Lyft
Uber Stock Rebounds But Investor Optimism May Be Temporary
Uber CEO Dara Khosrowshahi. Photo by Bloomberg.
When a stock is as down as Uber’s has been, a little dose of good news can work wonders as an antidepressant. Uber shares jumped nearly 12% today after the company disclosed it was closer to profitability than previously thought. The rally put DoorDash, a smaller company that rose above Uber’s market valuation last week, back in its place. You can almost hear the sighs of relief drifting out of...
Latest Briefs
 
Stitch Fix Q4 Revenue Grows 24%
Uber Shares Jump On Projection that Profits Are Closer
Facebook Reveals New Portal Smart Displays With a Focus on Remote Work
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Joe Lonsdale in 2017. Photo: Bloomberg
Exclusive Venture Capital Startups
Tiger Global to Invest in Joe Lonsdale’s Newest Fintech Venture
Joe Lonsdale, the former PayPal intern who co-founded big-data analytics business Palantir and wealth management platform Addepar, is raising capital for a new company to help financial advisers make private market investments.
Reddit COO Jen Wong.
Exclusive Media/Telecom E-commerce
Reddit’s Ad Revenue Expected to Double to at Least $350 Million This Year
The “meme stock” rally that sent shares of companies like GameStop and AMC Entertainment soaring earlier this year was driven in large part by discussion on Reddit, the 16-year-old online news aggregator and discussion forum.
Redbird's Gerry Cardinale next to a statute of the Incredible Hulk. Photo by Bloomberg
Exclusive
Sports Media Investor RedBird Capital Is In Talks to Invest in LeBron James’ SpringHill
RedBird Capital Partners, an investment firm specializing in sports media, is in advanced talks to buy a minority stake in NBA superstar LeBron James’ entertainment firm, SpringHill Company, according to people familiar with the matter.
Didi Global's offices in Hangzhou, China. Photo by Bloomberg
Exclusive
Could Didi List in Hong Kong to Stop Bleeding for Shareholders?
Could the path to relief for Didi Global’s beleaguered shareholders run through Hong Kong? It’s a pressing question as Full Truck Alliance, a U.S.-listed Chinese commercial freight company, which like Didi is under cybersecurity investigation by Chinese authorities, explores with bankers the possibility of listing its shares in Hong Kong, according to two people familiar with the matter.
Photo by Bloomberg
Apple Semiconductors
Apple Poised to Gain More Market Share Amid Chip Crunch, New Survey Shows
As Apple prepares to release the latest generation of its iPhone this fall, it is starting to feel the pinch Android makers have been feeling for months from the global chip shortage.
DoorDash CEO Tony Xu talking at a conference in 2019. Photo by Bloomberg.
The Briefing Facebook Uber/Lyft
DoorDash Passes Uber in Market Cap—And What That Means
DoorDash shares today hit their highest level since the company went public last December. At $221.50, DoorDash shares are worth more than double the IPO price, valuing the company at $74.8 billion in market cap.