HONG KONG – Chinese regulators have the largest ride-hailing app in the country, Didi Global Inc. The authorities urged Didi to stop new registrations and ordered that his app be removed from China’s app stores pending cybersecurity clearance. The government said it was acting to avoid security risks and protect the public interest. Didi is the latest company to face re-scrutiny in crackdown on some of China’s biggest tech giants.
WHAT IS DIDI?
China’s Didi Global Inc. is one of the world’s largest ride-hailing apps. Three quarters of the 493 million active users annually are in China. Didi, based in Beijing, operates in 14 other countries, including Brazil and Mexico.
Didi raised $ 4.4 billion in an IPO in New York on June 30th.
WHY DIDI IS IN DIFFICULTY
China’s cyberspace watchdog …