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China’s Didi to leave US stock market amid tech crackdown | AP News

Didi gave no explanation, but China’s leaders increasingly fret about who controls information gathered about its public by e-commerce, ride-hailing and other tech companies.

“After conscientious research, the company will start delisting operations on the New York Stock Exchange immediately and commence preparations to list in Hong Kong,” Didi said on its social media account.

Didi was founded in 2012 by Alibaba veteran Will Wei Cheng.

It expanded abroad in 2018 by acquiring Brazil’s 99 Taxis and set up operations in Mexico.

Didi acquired rival Kuaidi in 2016 and Uber Technologies Inc.’s China operation the following year.

…Read the full story

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