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Didi is no longer an internet company

via:博客园     time:2019/4/1 17:04:51     readed:141

Abstract: Cheng Wei: We think we are an internet company, but it is actually a transportation company. Our product managers and teams lack awareness of the scene, lack of preparation for human nature, and lack of sense of responsibility. ”


Image Source @视觉中国

Text / Gauss Finance (ID: GaussFE), Author: Left blessing

The latest development of Weibo@小桔程维 is June 13, 2014. But the comments below these dynamics are filled with the embarrassment of netizens on Didi and Cheng Wei in recent months.

Following the murder of passengers in Zhengzhou and Yueqing, the president of Didi, Liu Qing, also encountered the same situation of Cheng Wei. “Every day, many people yell at Liu Qing’s Weibo. ”

Cheng Wei cried for this.

According to China News Weekly, it was a core executive meeting inside the Didi. Cheng Wei said with tears:“When we set off, we didn’t think that we would take responsibility for transporting our lives one day. We thought we were an internet company, but it was actually a transportation company. Our product managers and teams lack awareness of the scene, lack of preparation for human nature, and lack of sense of responsibility. ”

As an Internet company, Didi is undoubtedly very successful.

In this business world surrounded by capital, Didi passed over the swaying car, conquered the fast taxi and Uber China, and also called the squad of the US group to call the car, "Will fight, fight" . In this process, easy-to-use cars, car rentals in China, and cars in the first car have been waiting around it, and their market share of more than 90% is coveted.

But the reality is that Didi is not a pure Internet company after all. When the user and the owner spend money to connect each other, the whole journey is actually the after-sales part of its guaranteed service quality, and all this happens offline.

The performance under the line makes the drop lose credibility. Nanning City has disclosed a set of data saying that since 2018, the city has investigated 617 cases of illegal traffic violations, including 607 drops, accounting for 98.4%. In addition to the two passengers killed in 110 days, this unicorn has been regarded by the public as a company with a missing value.

Cheng Wei once said that“Drip is a 250-meter high-speed car. On the road where the road conditions are extremely complicated, there are people who are hitting you. Any mistake in the details of the operation, any corner or even a stone, is likely to let us do everything. ”

Today, some businesses are off the shelves, suspended operations at night, regulatory admissions, government interviews, and public opinion accusations … … Didi really out of the "car accident".


01 Burned Internet Unicorn

In 2012, the US team led by Wang Xing survived from the “Thousand Regiments”. It changed office three times in six months, and the number of employees exceeded 1,000. Cheng Wei, who has been encouraged by Wang Xing, looked at his heart and itch, so he started his business from Ali.

With sales origin, Cheng Wei firmly believes that “the world’s martial arts, only fast and not broken”. At the beginning of his business, when he invited Baidu R&D manager Zhang Bo to be a CTO, he found out.“Time can't be delayed anymore. The product must be on for 2 months, and it will sound. ”

70% of the products are on the line, which is the experience that Cheng Wei summed up. Only in this way, Didi can seize enough market opportunities, and other product bugs can be iterated while developing.

A "fast" word, Didi defeated the shaken car, swallowed up the fast and Uber China.

In April 2012, when Beijing had the largest market share, it received a $3.5 million Series A financing from Sequoia Capital China Fund and Zhenge Fund. Founder Zhang Tao advertised the entire Beijing airport and promoted taxi software to all taxi drivers.

After 2 months, the drip was established. Cheng Wei ran over all the taxi companies in Beijing with the swaying of the car, and only one company was willing to cooperate with them. On the second day of cooperation, there was a driver who was a profiteer who defrauded the flow. He used 10M traffic a day, and there was no list. Cheng Wei had to give employees 300 yuan a day, let them go to the street to take a taxi.

Burning money begins here.

The Divine Angel Wheel was funded by Cheng Wei himself for 100,000 yuan, and Ali Tongmen Wang just invested 700,000 yuan. But this money is not enough for a series of costs such as product development and push. While looking for a taxi company, Cheng Wei also found more than 20 investors.

At this time, Jinshajiang Venture Capital Zhu Xiaohu found the drop and exchanged 20% of the shares for 2 million US dollars.

Zhu Xiaohu did not think of himself, went out to slide the snow back, and the drops were on fire. It turned out that Cheng Wei put all the money on the ground and subsidies. It is alleged that he and the team had been at the Beijing West Railway Station at 4 am to let the taxi driver download the software. In this year's Beijing, there were three heavy snowfalls. Overtime white-collar workers who couldn’t get out of the car started to try to call the car on the phone.

According to Zhu Xiaohu’s interview with Caixin, the second day after the remaining $1 million was received, Tencent’s $15 million Series B financing was finalized. When Ma Huateng was in the country, he went to the door to find Cheng Wei. He thought that the network car was a huge payment scenario for WeChat payment.

Ma Huateng's dispatch is naturally inseparable from Ma Yun's follow-up. Three months after the investment of Tencent, Ali invested in Hangzhou, and together with Jingwei, gave 10 million US dollars.

The network car subsidy war, kicked off.

At the time, there were media statistics. From June 2013 to the end of 2014, Didi and Quick burned a total of 2.4 billion yuan. In the first five months of 2015, the two GMVs reached 1.355 billion yuan, the loss was 300 million US dollars, and the rapid loss was 266 million US dollars. In total, more than 100 million US dollars were burned every month.

In the process, even Ali executives directly called the CITIC Industry Fund, hoping that the other party should not invest in the drop.Every investor wants to save money and kill their opponents. But until the end of 2014, Didi went through 7 rounds of financing and got 870 million US dollars; it quickly went through 5 rounds of financing, and got 958 million US dollars. No one has the intention to stop.

In February 2015, the outside world was waiting for a new round of financing. But the surprise is that Didi, and at the same time, released the information of "together together". The drop is 52% of the share, and the combination is fast.

In the next period of time, the merged Didi was once listed on the market by the media, and the money burned by investors seemed to be coming back soon.

But who can think that Cheng Wei just finished the merger, Uber founder Karanic visited the door. Kalanic’s intention to lay out business in China in July 2014 is obvious.Didi either accepts an investment of 40% in Uber, or is killed in a positive war.

Obviously, Cheng Wei refused to invest. One month later, some investors came to the news that Uber had prepared a one-time subsidy of US$1 billion for the Chinese market. This is equivalent to a Uber driver getting a subsidy of 6,000 yuan per week.

"Let you fight, you will fight." ”

Cheng Wei estimated that he had said this sentence that year. In the field of travel, which is highly dependent on policies and widely involved in people's livelihood information, Cheng Wei and Kalannik know that competition for the market is to compete for trust and resources. And these are in the hands of investors.

But as a result, everyone knows that Uber China was eventually merged because there were no investors standing in the queue.

The most crucial part of this is, “national prefix”, investors choose to give up Uber China.

It is believed that a large amount of passenger data, especially the data of public and military personnel, can analyze a lot of important information, and therefore involve national security. These data should not be controlled by foreign companies. Therefore, CIC, Ping An, BAIC Group, and investment promotion have begun to tend to drop. In the case of Uber China, in addition to Baidu's holdings, Huatai Insurance, China Life Insurance, China CITIC Bank, etc., “national name” & rdquo; investors are no longer following up.

From this point of view, the war between Didi and Uber China extends to the government's public relations. On July 28, 2016, the network about the new car policy was introduced, one of which said: the local government has a number of discretionary powers including pricing, number of cars, and so on. Many people say that this is the last straw to overwhelm Uber China.

After the introduction of the New Deal for three days, the news of the merger of Didi and Uber China was spread.


02 Business Sustainable Exploration

After the merger, the market share exceeded 90%.

For the later provoked US group taxis, as well as the existing China car rental, easy to use cars, Shouqi car or even Cao Cao special car, have played against Didi in this monopoly market. But this is not the biggest concern of Didi. The biggest challenge it faces is how to move from large-scale subsidies to true commercial sustainability.

The increase in the market is likely to double the number of users when the demographic dividend disappears. But the value that users can create (ARPU) is far more than double the space.In this regard, what Drip needs to do is to reduce expenses and retain users, waiting for users to create more value than operating costs and achieve profitability.

From the perspective of retention, the ride is a good product that can enhance user stickiness through social interaction. The well-known new media platform Tiger Sniff has reprinted a report saying:“In the interior of Didi, once, employees were encouraged to hand over to boyfriends and girls through the ride. ”

Windmill business, Didi is not the first mover. But it became the market number one year after its launch. In June 2016, Didi's data disclosed by the company showed that it covered 343 cities, used more than 30 million passengers, and transported 200 million passengers. In the same period, a report from third-party research firm Trustdata showed thatDrips and windmills accounted for 76.8% of the carpool market.

“Quick” product design concept, as well as the scale effect of the original business, provides a good development environment for the drip. But there is also a non-negligible growth hotbed that is its social scene.

Huang Jieli, general manager of the Drip Winding Business Unit, described this scene in an interview in 2015 ——“ In the past, you spent 2 hours on the road every day, which is consumed for your life. But now, by the windmill you can get to know the more reliable people and get a good social experience, it becomes a benefit. This is a scene that has never existed. Just like a cafe or a bar, a private car can also become a semi-public, semi-private social space. ”

She also said that“This is a very futuristic, very sexy scene. We thought very clearly from the beginning, and we must play in this direction. ”

Sexy's Baidu translation is "sexy, erotic, causing sexual desire". Such a small reminder leaves the rider with more imagination.


What followed was the buzz of netizens. Even Didi employees received a call from their family and persuaded him not to stay in the company anymore.

A senior executive has discussed the boundaries of security with the media. He believes that the society hopes that 30 million orders per day will not be able to cause an accident. This requirement seems to be excessive, the criminal case itself is uncontrollable, and preventive measures are difficult to guarantee absolute security.

But more netizens think that it is not the trick.

"ELLE MEN Rui Shi" magazine reported that after Zhengzhou's passengers were killed, Xiang Peng's flight attendant broke the news on Weibo and complained that the suspect Liu was harassed. Didi also confirmed that Liu had been complained before the incident, but the customer service did not contact him five times. After that, the flight attendant Li who rushed to Zhengzhou Railway Station went to Liu’s car and was killed.

After 110 days, the Yueqing passengers were also killed in a similar "bridge section". On the day before the owner committed the crime, a female passenger had complained that he had repeatedly asked the passenger to sit in the front row and drive to a remote place. After getting off the bus, the driver continued to follow a distance. However, seeing the complaints are not moving, the next day the disaster happened.

When everyone is expecting a response to this,A set of data is available, and there are 16,000 customer service users, and two-thirds are outsourced.The huge cost of labor is an unbearable burden to try to move towards true business sustainability. Like most companies, they outsource customer service to cut costs.

But who will understand the innocence of the platform? People will only see the words "outsourcing customer service", which is like a ridiculous excuse for everyone, just like "intern" "intern employee" "temporary workers"

In the process of large-scale subsidies and sustainable business exploration, expansion and making money are the purpose of an Internet company. And life is more of a transportation company. Just like Cheng Wei’s cry, before that, in his subconscious or value perception, Didi is an Internet company.

Now, he discovered that Didi was originally a transportation company.

03 Live: Deceleration Turn

From Internet companies to transportation companies, it means that the values ​​of Didi will change from growth to safety.

In more than 10 departments jointly stationed in Drip for safety special inspection, Cheng Wei admitted that in the past, Drip has paid more attention to accidents and in-vehicle conflicts, and it has been judged that the incidence of malignant events is extremely low, and it has not attracted enough attention.

Indeed, Didi has been working hard to improve the pain of the ride. At the beginning of this year, Zhang Bo told about some of the achievements of Didi on security issues. He mentioned that at 3 am on December 29, 2017, a passenger in Xiamen got a pistol after getting on the bus. The safety system that Drip was on the line automatically found a call to the driver and passengers through the big data analysis and the AI ​​model. This caused the passenger to give up the crime and the driver did not suffer any harm.

But these achievements, as Cheng Wei said in his early years, are iteratively optimized after 70% of the products are online. But on August 25th, after the Yueqing incident, Didi is not just a simple iteration.


Six years ago, when Cheng Wei took the prototype of the product that he had done in two months, he gave Wang Xing a look. Wang Xing glanced at it and said: "You are too junk, and there is no interest in garbage." & rdquo; After 6 years, Cheng Wei may be paying for this "junk stuff".

At the end of 2017, Cheng Wei’s public speech stated that Didi Windmill helps 2 million car owners to share their unused seats every day. Throughout the year, the company has shared more than 1.05 billion seats (times). In this business, according to Caixin, there are almost no vehicle operating costs, but it is as high as 28% & mdash; it is the first business to achieve profitability.

In the first half of 2018, Didi lost a loss of 4 billion yuan, which is a loss for six consecutive years since its establishment. The earliest profitable downwind business of the downline, coupled with other extended businesses such as artificial intelligence and driverlessness, auto trading and finance, takeaway, bicycles, etc., are in urgent need of blood, which will undoubtedly further expand the loss of Didi.

But there is no way. If there is another vicious incident, the drop will probably be pushed back. A drop executive said that it was the worst plan. He and all of the Didi are well aware that the rapid development of the past six years has left too many loopholes to fill.

Non-compliance is the biggest vulnerability outside of security.

In Shenzhen, according to the data about the network traffic transmitted by Didi to the government supervision platform (the data has not been transmitted), there are still nearly 5,000 drivers and nearly 2,000 vehicles in the platform that have not yet obtained the operating documents. In Chongqing, the network was obtained. Among the 11 network car platform companies that have reserved the Taxi Business License, there are no drops; in Shanghai, 13 network reservation taxi platform companies have obtained the network car license, Drip is not in it; The number of vehicles licensed for administrative approval was 2,539, but the data provided to the industry management department was more than 240,000, and the number of registered vehicles was only 1%.

Under the pressure of public opinion, this is a tricky business. A Didi employee said in an interview with China News Weekly: “After compliance, a security incident is a criminal case; if it is not compliant, the company’s values ​​are lost. ”

But Didi employees and even executives have a lot of confusion about recent security and compliance efforts. “The confusion of security is that you don’t know the standard (boundary). The confusion of compliance is to know the standard, but if you do this, the whole industry may not exist. ”

“What is the whole industry?” Is the Internet industry still a transportation industry? At the critical moment of refactoring values, Cheng Wei saw the answer, but the drop may not be there.

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