Taxi medallion to "The Washington Post", medallions were "the best investment in America", but—due to increased competition from app-based car services and transportation network company growth from companies like Uber and Lyft—taxi medallions are now decreasing in price. In 2013, the price of a medallion was $625,000. In 2014, that price had risen to around $700,000. In 2014, a medallion was worth nearly $700,000. The total value of all medallions and assets related to them had a value of $2.5 billion in Chicago in 2013. In 2012, medallion prices ranged from $87,000 to $385,000. In 2015, Chicago's average medallion price was under
DiDi areas. Cheng Wei, having worked for Alibaba for eight years, founded Didi Dache. He was left to create his own company because he recognized that cabs were very difficult to catch, particularly during rush hour. Most importantly he missed several flights because he could not hail a cab in time. In June 2012, Orange Technology (小桔科技) was established and Didi Dache (嘀嘀打车; meaning "Beep Beep Call a Taxi"; or ; literally: "Didi Taxi Calling")- the initial incarnation of Didi Chuxing's ride-hailing service, was launched as an app for consumers to request taxis for immediate pick up by Cheng Wei. BeiJing