DiDi Co-Founder Shares Exit Plans With Acquaintance: Reuters

·1 min read
  • DiDi Global Inc (NYSE: DIDI) co-founder and President Jean Liu has told some close associates she plans to exit the company, Reuters reports based on company sources.

  • The Goldman Sachs Group Inc (NYSE: GS) veteran holds a 1.6% stake worth $640 million and controls 23% of the vote.

  • Liu sees the government taking control of DiDi and appointing new management. Liu even told her close associates to start exploring new opportunities.

  • Liu was an essential part of DiDi's critical decisions, including Alibaba Group Holding Ltd (NYSE: BABA) backed Kuaidi merger and takeover of Uber Technologies' (NYSE: UBER) China business.

  • DiDi has seen intense regulatory scrutiny over user data handling, pricing strategy, and anticompetitive practices since its U.S IPO.

  • Liu had previously planned to quit before the regulatory crackdown to try something new.

  • DiDi acknowledged complete cooperation with the cybersecurity review that urged it to delay the IPO. DiDi also refuted the management change stories.

  • Price Action: DIDI shares traded lower by 6.99% at $7.72 on the last check Monday.

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