Cheng Wei And Jean Liu Biography

In China, there are essentially two options for ride-hailing apps: Didi Kuadi and Uber, with the latter being the market leader with an 80 percent market share. Cheng Wei, a cherubic-faced IT genius, leaned on Jean Liu, the daughter of Lenovo founder Liu Chuanzhi and a former Goldman Sachs managing director, to conclude a merger earlier this year. The transaction merged Tencent-backed Didi Dache with Alibaba-backed Kuaidi Dache to form a behemoth capable of competing with Uber. The new firm, which also has a new trans-Pacific relationship with Lyft, was rumored to be raising $3 billion at a valuation of more than $16 billion in early September, more than doubling its worth in the spring.

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