Didi’s Founder Presides Over Unruly Investor Group

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.

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Still, another company that both giants co-invested in—Meituan-Dianping (a Groupon- and Yelp-like company in China)—ended in a divorce, as Alibaba sold its shares in 2015 and decided to develop its own on-demand platform.

Taylor Edmiston commented on this article.
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“He will prioritize what’s right for Didi, not necessarily what’s right for Alibaba or Tencent. I think the reality is that Cheng Wei has the power to make that call.”