Jean Loup is one of the most powerful
women in tech she's the president of
didi chu Jing the company operates one
of the world's biggest ride-hailing
services completing up to 30 million
rides per day that's about 10 million
more than uber didi is also the world's
second most valuable startup with a
lofty 56 billion dollar valuation but
Dee Dee's valuation has been called into
question following Ebers disastrous IPO
didi shares are said to be trading
privately 40% lower than their peak
investors are starting to doubt if car
halen companies can ever turn a profit
this is how Jeanne you took on uber and
made didi one of the most high profile
companies in China you was born into a
prominent family in Beijing in 1978 her
father is a Chinese tech icon you trans
you the founder of Lenovo giulio strikes
people as a type-a personality I think
part of it does come from the fact that
her father is one of the most famous
people in China and she's been trying to
make a name for herself you majored in
Computer Sciences at Harvard and spent
12 years managing Asia investments at
Goldman Sachs in July 2014 she joined
the then two-year-old start-up didi
aiming to help solve China's massive
traffic problems right after I joined
didi there's this women coder coming to
my office say I want to resign asked her
why and she said I got pregnant I said
you know you can still work here if you
get pregnant she said no it's the
commute that's killing me and you know
she was spending three hours switching
between buses and Subway's every day
there are many many people like that in
China a hundred million
their rise 1.4 billion times every day
you brought her financial expertise to
DD she helped the company raise billions
of dollars to compete against karate its
largest local rival and later brokered a
merger with them months after the
completion of the deal you was diagnosed
with breast cancer she survived and
returned to work to face one of the
biggest battles of her career DD was
facing its strongest competitor ever
Guber which was already big in the US
and starting to expand globally uber
came when we were three years old and
the war chest the money they brought in
was bigger than our market cap so we
were scared for a moment and there was a
big decision whether we give in or not
DD didn't give in instead you and her
company fought an all-out battle against
uber the two companies spent billions
discounting rides and recruiting drivers
in an attempt to crush one another
gaining market share turned into a
question of who had more money to burn
first of all we work really hard you
know the product teams say in the office
you know for three months they sleep in
the office and we roll out for product
lines after uber came in and secondly we
think we understand the market more for
example many of China's cities restrict
the use and ownership of private cars as
a way to manage traffic and pollution so
dd focused on taxi hailing but uber
didn't seem to understand that DD also
had the support of China's to mobile
payments giants Ali pay and WeChat pay
they helped smooth transactions and also
back DD subsidizing its drivers a year
later both DD and uber realized that
they had to stop the costly war and
concentrate on building their businesses
in August 2016 DD bought uber China
after receiving a billion dollars of
funding from Apple a deal largely
brokered by jean-loup uber also acquired
a small stake in DD retreating from the
Chinese market since
DeeDee started to dominate the domestic
market julia was instrumental in
brokering the Apple deal when she met
him cook she was saying that Dee Dee's
logo is an orange and Apple being
another Fruit Company they were bound to
do great things together 22 days later
they announced that Apple was investing
1 billion dollars into DeeDee while
DeeDee triumphed over over in China they
soon began competing globally DeeDee has
entered markets in Latin America
Australia and Japan it now completes an
average four million rides a day outside
of China it also launched proxy wars
against uber through investments in many
of its international competitors such as
grab ubers biggest competitor in
Southeast Asia and lift the mane of
arrival in the u.s. Didion uber have a
pretty interesting relationship after
the merger they did have this short
period of truce and they were observers
on each other's boards but that has come
to a halt right now dd-did form
strategic alliances with grab lifts but
it hasn't been working as closely as
people are visioned and just like uber
DeeDee has ambitions beyond ride hailing
its venturing into on-demand food
delivery bike an e-bike sharing smart
city solutions driverless cars and the
lucrative car financing business that
gene you helped to build but those
ambitions may be kept in check by a
year-long company overhaul triggered by
the alleged murder of two female
passengers the company's safety record
was thrown into the spotlight as
thousands of users publicly deleted the
app regulators cracked down on the type
of drivers and cars allowed on Dee Dee's
carpooling service hitch honey huh you
idiom conjure sound can I do it
I mean whoever that is really around me
or training in the dance is he a good
and they don't do that it was a huge
setback for didi at the time it had to
halt its carpooling service it was a
very lucrative business for the company
and after that it went through a series
of revamped trying to step up its
security measures they finally resumed
that service last year despite huge
success with the company helping grow it
into a massive startup with about 13
thousand staff there remains serious
questions about the business company is
said to have lost one point six billion
dollars in 2018 investors are doubting
if it can ever turn a profit
it faces stringent regulatory crackdowns
and competition from regional operators
even after muscling uber how to China
the outbreak of coronavirus in China
could also dampen Dedes prospects as the
government has imposed travel
restrictions between many cities and
people are traveling a lot less within
cities
it's another make-or-break year for didi
and a lot of Jim News legacy depends on
whether she can prove that didi can be a
profitable company in the long run
you