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In Depth: Rival Ride-Hailing Apps Challenge Didi in World’s Biggest Market

By Du Zhihang and Toh Han Shih
2022年11月16日 19:19
Upstarts have eaten away at the struggling company’s dominant position in China, but like the market leader, not one has turned a profit
Didi commanded 70% of the ride-hailing market from March to August this year, compared to 90% at the end of 2017. Photo: VCG

The current state of China’s $30 billion ride-hailing market, the world’s largest, is reminiscent of the dotcom craze of the late 1990s, when many tech hopefuls launched startups that were unprofitable but still managed to win enormous valuations based on the number of customers or eyeballs they could pull in.

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