Jean Liu is the 37 12 months old President of Didi Chuxing, the corporate that nowadays simply raised any other $6 billion – just one month after Apple invested $1 billion at a $25 billion valuation.
Now, with 300 million users, and 14 million rides every day, Didi is a ways in advance of Uber in China and is asking itself “the sector’s largest mobile tech-based totally transportation platform.”
How did Jean, at 37, get right here so quick?
When she was 17 years previous in 1996, Jean used to be impressed through bill Gates’ book, “The road beforehand” where bill anticipated sooner or later “We’ll in finding ourselves in a brand new world… wherein market information might be abundant and transaction prices low. it’ll be a shopper’s heaven”
impressed to be a part of this “new world”, she adopted in bill’s footprints, leaving China for Harvard, and then working her way up the banking industry unless approaching chinese language experience-sharing firm, Didi in 2013. As Jean says, “I was relatively intrigued through the truth that they’d so many traders chasing them.”
Jean joined the corporate when it used to be only one 12 months previous, and as President she grew the staff from seven hundred to 5,000 body of workers in her first 18 months.
She additionally merged it in a thousand million buck merger with its major rival, Kuaidi Dache in 2015. That transfer gave Didi an important benefit over Uber, and Jean sees their market strategy as in advance of Uber’s, announcing:
“i feel Uber has a short-term method to subsidize closely to get drivers and passengers. but, if I had been them, i might assume very carefully. it is a highly competitive market. It’s already a healthy ecosystem. we now have 5 million automobile homeowners; we do insurance coverage, automobile gross sales.”
while Uber is competing, Didi is taking part, and works with the China taxi trade instead of towards it: “we’re seeking to serve each chinese in each scenario. We launched our taxi service three years in the past, and later we figured [taxis are] in this type of big shortage that there’s a lot of unmet demand on that platform. Then we supplied a private car service to meet those calls for.”
“Then we figured there are a number of drivers who need to earn extra money. That’s why we launched the chauffeur trade.” Didi also helps you find non-public buses and shuttle buses.
“So our philosophy here is you don’t in point of fact want seven individual apps to satisfy your commute need. You just need one. That one app will be sure that you are going to get a trip anyplace in three minutes.”
as a result of this center of attention on serving the client more than preventing on worth, Didi will reach revenue a long way sooner than Uber. whereas Uber is dropping $1 billion a yr in China, Didi is already winning in 200 out of the 400 cities it operates in.
Jean stated on the up to date Code convention, “I to find it moderately cute as a result of I’ve never seen an organization put their competitor’s brand on their own homepage”. Uber advertises their pricing on their app as 30% lower than Didi’s. “this is a very strong proof to indicate that we’ve better carrier, and that i’d like to look this extra ceaselessly.”
Jean’s forward considering is also what drives her staff. impressed by way of Sheryl Sandberg’s e book “Lean in”, she has created a bright tradition in Didi’s place of business, announcing: “To be a really perfect firm you need not simply the very best product but additionally the most effective people. We purpose to get the best young talent from a variety of fields and ensure that they have the feeling that they can have a huge effect.”
twenty years ago, Jean read a book that altered the course of her existence.
as of late, her firm has 87% of China’s non-public ride sharing market, one hundred% of the taxi market, and every other $7 billion within the bank.
What ebook would possibly exchange your life nowadays?
“studying is to the thoughts what train is to the physique.” ~ Joseph Addison