DIDI
CLICK TO WATCH : ‘ BLOOMBERG – TIKTOK ’ S OWNER IS TAKING OVER THE WORLD ’ 75 spiritual successor to the now defunct Twitter-owned Vine , it allows users to create short looping videos , with the format being ripe for producing viral hits . The app was combined with video lip-syncing app Musical . ly after an acquisition in 2017 , uniting two phenomenally popular , youth-targeted services and leading the company to become the world ’ s most valuable unicorn .
DIDI
Transportation company DiDi was founded by an alumnus of
Hangzhou-based ecommerce giant Alibaba , Cheng Wei . Originally backed by Tencent , in 2015 it merged with its biggest , Alibaba-backed , rival , Kuaidi . Such was its dominance of the Chinese market that , in 2016 , it bought out Uber ’ s Chinese business . Like Uber , it has since expanded beyond its original ride-hailing remit , with the company branching out into areas such as robotaxis where it is planning to test its fleet of autonomous vehicles on the streets of Shanghai imminently .
asia
. businesschief . com