Cheng Wei all assets of the Chinese division of Uber, including its brand, business operations and data for operation within mainland China. Under the terms of the deal, Wei is set to become a board member of Uber and Uber's CEO also gets a seat on DiDi's board. Since the company was founded in 2012, under the leadership of Cheng Wei and Jean Liu, DiDi has grown to become one of the world’s highest valued tech start-ups. The company has evolved from a simple taxi-hailing app to taxi hailing, private car hailing, hitch (social ride-sharing), bus, minibus, chauffeur service, car rental service,
Grab (company) claimed to be doing one booking every eight seconds, or 10,000 a day, representing sixteen-fold growth within a year. In November 2017, Grab reached one billion rides with 66 concurrent rides in one second across seven countries, occupying 97% market share in the third-party taxi hailing market and 72% in the private vehicle hailing market. The company also claimed to have two million driving partners, 68 million mobile app downloads, and 3.5 million daily rides. In April 2014, the company secured more than US$10 million in series A funding from Vertex Venture Holdings (a subsidiary of Singapore sovereign wealth fund