Cyberspace Regulators to Review Didi
In this picture taken on October 18, 2018, a driver working for ride-sharing company Didi follows a map on his smartphone to bring a customer to his destination in Beijing. – Didi is a popular taxi and ride-sharing service in China that is operated via a smartphone app.
Regulars Recommend Didi’s IPO to be DelayedIn another report by the Wall Street Journal on July 5, what pushed Didi’s initial public offering to be postponed in the United States was the suggestion that came from the antitrust regulators. In addition, this also led the cybersecurity departments to launch an evaluation of Didi’s network security. The same news outlet wrote that the alarming instance about this information is the possibility that the data contained in Didi’s system. According to the regulators, they feared that they would undergo a review of the US-based officials because of the auditing requirements in Washington.
Moreover, CAC said over the past week that the cybersecurity review should be mandatory among companies that house sensitive details coming from more than 1 million users. Before doing overseas listings, the Chinese regulating body said that it should be the first thing to do by the companies.
In line with the campaign about data privacy improvements, the authorities will make sure that the users’ information will not be used for other activities that could compromise the identity of the bearers.
Who is the Head Behind Didi?
We know Didi works similarly to the usual ride-hailing services that we know.
Other than that, we have no sufficient information about its founder. The South China Morning Post wrote that Cheng Wei, 38, is the company’s founder who has a $1.2 billion network, as per Forbes’ report.
In 2021, the company managed to successfully come into the American stock market after its IPO listing in New York City. After that, the authorities responded to Didi’s questionable listing, which prompted CAC to conduct an investigation. Then, the officials decided to remove its app from several app stores that would require the users to log in.
Written by Joseph Henry