Category: Finance Case Study Solution

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    Riding taxis and ridesharing have always been popular in the United States, with Uber and Lyft operating the largest ride-hailing platforms. Unfortunately, these apps have been banned in New York City. In a shocking announcement, three months after they went public, Didi Global and its competitor, Uber, experienced an apocalypse. Even though the companies raised $2.6 billion in an IPO, New York’s taxi regulator has prohibited them from operating. New York’s Department of Transport

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    Didi, the Chinese ride-hailing giant, had to block all 362,000 of its ride-hailing apps on Apple’s iOS platform, after it was blacklisted by the Chinese government, just three days after its US IPO. navigate to this website On March 9th, the day of the public offering, the Chinese tech giant issued a notice on its official website saying: “the apps listed on the iOS platform are blocked.” The notice also directed Didi’s 362,000 ride-hailing apps from