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Beleaguered Didi Is Said to Lose $585 Million in Just Six Months

  • The ride-hailing giant hasn’t made a profit in six years
  • Didi is said to have given out $1.7 billion in subsidies
Coatue Hedge Fund Bets on Didi, China's Apple-Backed Uber Rival

Photographer: Qilai Shen/Bloomberg

Chinese ride-hailing giant Didi Chuxing lost 4 billion yuan ($585 million) in the first six months of 2018, people familiar with the matter said, underscoring the depth of competition facing a company already struggling with unprecedented regulatory scrutiny.

The Beijing-based startup backed by Softbank Group Corp. and Apple Inc. doled out about $1.7 billion in subsidies and discounts to passengers and drivers in the first half to neutralize hard-charging rivals such as Meituan Dianping, the people said, requesting not to be named because the matter is private.