FACTBOX-How do the ride-hailing giants Didi and Uber compare?

BEIJING, June 30 (Reuters) – Chinese ride-hailing giant Didi Global will make its trading debut on the New York Stock Exchange on Wednesday after an initial public offering that sources said raised $4.4 billion and raised it at $67, 5 billion in the largest share sale by a Chinese company in the US in seven years.

Didi acquired the Ubers China business in 2016 – Uber retains a 12.8% stake in the company – and made an average of 25 million trips per day in the first three months of the year in China, where it is the dominant operator.

Here are some key facts about the company and its global rival, US-based industry pioneer Uber Technologies Inc, which has a market cap of $95 billion:

FOUNDATION

– Didi was founded in 2012 by Chief Executive Will Cheng, formerly at Alibaba, in Beijing. Co-founder and president Jean Liu joined in 2014.

– Uber was founded in 2009 by Garrett Camp and Travis Kalanick. It went public in May 2019.

COMPANY PROFILE

– Didis’ main activity is ride-hailing in China. It operates in 15 international markets, including South America, Japan, Australia, Russia and South Africa. It also offers services including food delivery, community group purchasing, and logistics.

– Ubers core business includes taxi transportation, which operates in approximately 70 countries, and restaurant meal delivery under the Uber Eats brand in 34 countries.

The company generates most of its revenue in the United States and Canada.

DRIVERS

– Didi has 15 million active drivers worldwide annually for the twelve months ending March 2021.

– Uber said in February 2020 it had about 5 million drivers worldwide.

PROFITABILITY

– Didi was loss-making from 2018 to 2020, but made a profit of $30 million in the first quarter of this year.

– Uber continues to lose money but has promised investors it will be profitable by the end of this year on an adjusted EBITDA basis.

CARS

– Many Didi drivers rent cars from fleet companies. Didi has fleet management partnerships with automakers including Toyota, BYD and Nissan.

– Uber drivers in most corporate markets are independent contractors who use their own vehicles. Uber discontinued its own car rental program in 2018, but drivers can still sign up for short-term rentals with other companies.

TECHNOLOGY AND DEVELOPMENT

– Didi tests autonomous driving with a fleet of more than 100 cars.

Uber sold its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora in December.

– Didi has rolled out a purpose-built ride-hailing vehicle with China’s BYD and is working on a future model with autonomous driving functions with GAC, a Chinese automaker.

Uber has announced that it is partnering with British electric van and bus manufacturer Arrival to develop a purpose-built ride-hailing model that will enter production in 2023.