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CHINA BRIEF | Ride-hailing giant Didi launches services in Russia

Didi Chuxing, the world’s second most valuable unicorn with a valuation of USD 56 billion, is stepping up its international expansion.

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Didi Chuxing announced in a release on Tuesday that it kicked off its service in Kazan, the capital and largest city of the Republic of Tatarstan, Russia, its first Eurasian market.

Didi’s wholly-owned subsidiary Didi Russia will run the operations in Tatarstan, home to Russia’s largest IT park. Didi already operates mobility, food and delivery services in Australia, Japan, Brazil, Mexico, Costa Rica, Chile, Colombia, and Panama. The company aims to complete more than 100 million daily trips globally in three years.

“We look forward to building a broad partnership with Russian fleet partners and drivers to providing better, safer, and more convenient services to the public,” said Stephen Zhu, senior vice president and head of Didi’s international business.

According to CB Insights’ latest ranking, Didi is the world’s second most valuable unicorn with a valuation of USD 56 billion, only behind ByteDance’s USD 140 billion.

This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.