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Didi, the largest ride sharing company in the world, went public this past week.  Four days later, China’s cyberspace regulator ordered all major app stores to remove Didi Chuxing apps

Check out my comments on CNBC this week.  The scale of Didi is truly astonishing:

  • Operates in 15 countries and 4000 cities
  • Over 493M users vs 93M users in 2020 for Uber (over 5X bigger than Uber)
  • Over 15M drivers vs 5M for Uber (3X bigger than Uber)
  • 41M daily transaction with $52B GTV

The few key metrics that many investors learn during the Uber IPOs which I think all Didi investors should pay attention to:

  • Gross bookings
  • Core platform net revenue - minus driver pay / incentive
  • Core platform contribution margin 
  • Core platform contribution profit (loss) as a percentage of core platform adjusted net revenue 
  • Monthly Active Platform Consumers 

P.S. I am hosting an investor workshop for FoundersHK on July 12. To cultivate a healthy and vibrant Hong Kong startups community, we not only need kick-ass founders, we also need investors who get what startups are all about. Home to 96 billionaires, Hong Kong has no shortage of funding. Unfortunately, most of the investors come from traditional industries and often invest in startups the wrong way.

Join me!  

This week a total of 22 startups raised $768.2M in funding, M&As:

  • $392M goes to 5 Enterprise startups
  • $11M goes to 1 FinTech startup
  • $30M goes to 1 InsurTech startup
  • $5.8M goes to 1 E-Commerce startup
  • $3.8M goes to 1 Marketplace startup
  • $25M goes to 1 Food Delivery startup
  • $1.2M goes to 1 Recruiting startup
  • $12.5M goes to 1 EdTech startup
  • $1.6M goes to 1 Hospitality startup
  • $63M goes to 3 Healthcare startups
  • $73M goes to 1 BioTech startup
  • $15M goes to 2 FoodTech startups
  • $24.3M goes to 1 Cannabis startup
  • $30M goes to 1 Construction startup
  • $80M goes to 1 VR startup
If you love this newsletter, ask your best friends to sign up.

Edith

See more details below:

 
  
  Funding (300 miles radius from Silicon Valley)

Enterprise  FinTech InsurTech E-Commerce Marketplace Food Delivery Recruiting EdTech Hospitality Healthcare BioTech FoodTech Construction Cannabis  VR IPO & M&A (300 miles radius from Silicon Valley)  
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