Didi ride hailing firm to expand globally

Didi Chuxing Technology will expand beyond China to take on new global markets, potentially joining with local ride-sharing players, President Jean Liu said. Didi is evaluating new markets to enter and may collaborate with or compete with incumbent ride-sharing companies, The Wall Street Journal reports. If Didi sees a market where the local company isn’t strong, Didi will compete. Ms. Liu announced that Didi made around $20 billion in gross bookings on an annual basis in September, and it now hosts 20 million rides a day in 400 cities. Like rival Uber Technologies, Didi takes a small cut of those bookings from its drivers as revenue. But, unlike Uber, which has expanded around the world, it has largely remained focused on China.