Bulletins

Antitrust regulators might be investigating DiDi

Just ahead of its huge IPO, too.

DiDi's logo shown on a rendering of a smartphone

DiDi is set for an IPO.

Photo: Pavlo Gonchar/Getty Images

Chinese ride-hailing app DiDi Chuxing is being investigated by China's antitrust regulator, Reuters reported.

The country's State Administration for Market Regulation is reportedly investigating whether DiDi has been unfairly competing with smaller companies, and whether its ride-hailing pricing mechanism is adequately transparent. DiDi had previously disclosed that it met with SAMR in April and was asked to conduct a "self-inspection".

The SAMR probe comes just as DiDi prepares for a huge IPO, which could see it valued at over $70 billion. It's also the latest sign of China's growing antitrust crackdown on big tech companies. In April, Alibaba was fined $2.8 billion, while Tencent is reportedly facing a $1.5 billion fine. And in a situation somewhat reminiscent of DiDi's, Ant Financial's mega IPO last year was pulled after regulatory scrutiny that has since halved the company's valuation.

Shakeel Hashim

Shakeel Hashim ( @shakeelhashim) is a former growth manager at Protocol, based in London. He was previously an analyst at Finimize covering business and economics, and a digital journalist at News UK. His writing has appeared in The Economist and its book, Uncommon Knowledge.

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