Jun 30, 2021 - Economy

Colossal ride-hailing company Didi goes public

Photo of two people sitting in a green car with giving a thumbs-up

Didi President Liu Qing (R) and CEO Cheng Wei in Beijing. Photo: Xin Yue/Huanqiu.com/VCG via Getty Images

Chinese ride-hailing company Didi Chuxing started trading on the New York Stock Exchange Wednesday — popping nearly 19% from its $14 IPO price.

Why it matters: Didi’s debut makes it one of SoftBank’s biggest exits. Masayoshi Son’s Vision Fund is the company’s biggest investor with a roughly 20% stake in the company. 

The intrigue: SoftBank also backed Uber (also an investor in Didi), which went public in 2019 under very different market conditions and opened for trade below its IPO price and closed even lower

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