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DiDi (Chinese: 滴滴出行; pinyin: Dīdī Chūxíng, pronounced [tɨ́tɨ́ ʈʂʰúɕɪ̌ŋ]), formerly Didi Kuaidi (Chinese: 滴滴快的), is a major Chinese ride-sharing, AI and autonomous technology conglomerate founded by Cheng Wei, providing transportation services for 550 million users across over 400 cities. Its headquarters is located in Beijing. It provides services including taxi hailing, private car hailing, Hitch (social ride-sharing), DiDi Designated Driving, DiDi Bus, DiDi Test Drive, DiDi Car Sharing, DiDi Enterprise Solutions, DiDi Minibus, DiDi Luxe, bike and e-bike sharing and food delivery to users in China via a smartphone application.Formed from the merger of rival firms Didi Dache and Kuaidi Dache (backed by the two largest Chinese Internet companies, Tencent and Alibaba respectively), it was initially valued (as of June 2016) at approximately US$28 billion. DiDi acquired Uber's China unit on 1 August 2016. It is the only company to have all of China's three internet giants — Alibaba, Tencent, and Baidu — as its investors. In December 2017, DiDi closed a US$4 billion financing round, becoming the 2nd most valuable start-up company in the world after Ant Financial, with over US$56 billion worth of valuation, and backed by over 100 investors.DiDi is the world's leading and most valuable ride-sharing service, with a monopolistic investment and M&A portfolio in the ride and bike sharing industry across the globe. The company carries 30 million rides per day.In May 2017, DiDi started to develop an English version of its app and services. In 2018, DiDi launched its own-branded mobility services in Mexico and Australia, and a joint venture with Soft Bank Corp. to offer taxi-hailing service in Japan. Recently, it has also been involved in autonomous driving and artificial intelligence (AI), hiring researchers and investing in these areas.