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) app assigns taxis to nearby commuters through a location-sharing system. Each time the company enters a new market, they buy smartphones for drivers in countries that they expand to, allowing those drivers to pay daily instalments for the phone. The company makes money by taking a cut of the booking fees. Although some taxi companies have tried to stop their own drivers from using the app, Grab reached out directly to taxi drivers by signing them up at airports, hawker centres, taxi queues, and depots. The company also educates taxi drivers on using the smartphone and their mobile app. In