From the Didi F-1 filing:Ĭore Platform GTV fell by 32.8% in the first quarter of 2020 as compared to the first quarter of 2019, and then by 16.0% in the second quarter of 2020 as compared to the second quarter of 2019. The impact and recovery of China’s bout with COVID-19 is therefore not the whole picture of the company’s GTV results.ĬOVID-19 began to affect the company starting in the first quarter of 2020. Starting at the highest level, how quickly has gross transaction volume (GTV) scaled at the company? GTVĭidi is historically a business that operates in China but has operations today in more than a dozen countries. Sound good? Into the breach! Inside Didi’s IPO filing In that vein, we’ll consider GMV results, revenue growth, historical profitability, present-day profitability, and what Didi may be worth on the American markets, given current comps. As we explore the company’s finances, then, we’re more than vetting a single company’s performance we’re examining what sort of returns an ocean of capital may be able to derive from its exit. The size of the bet riding on Didi is simply massive. And Uber and Lyft, two American ride-hailing companies, have been posting numbers that point to at least a modest recovery in the ride-hailing industry as COVID-19 abates in many parts of the world.Īs further grounding, recall that Didi has raised tens of billions worth of private capital from venture capitalists, private equity firms, corporations and other sources. While the late-2020 IPO fervor, which sent offerings from DoorDash and others skyrocketing after their debuts, has cooled, valuations for public companies remain high compared to historical norms. This morning, we’re extending our earlier reporting on the company to dive into its numerical performance, economic health and possible valuation.ĭidi is approaching the American public markets at a fortuitous moment. Didi filed to go public in the United States last night, providing a look into the Chinese ride-hailing company’s business.
0 kommentar(er)
