After being removed from app stores, Chinese ride hailing giant Didi had its mini program pulled from WeChat and Alipay’s platforms.
According to Reuters, a source close to the matter said that Ant Group’s Alipay and Tencent‘s WeChat have temporarily closed the Didi Mini Program to new users in China. The service is still available to users who had previously used the Didi Mini Program on those platforms.
To be specific, only the ride-hailing services part of Didi’s Mini Program has been pulled, while those for hitch riding services, refueling and designated driving services have not been affected and continue operations as usual.
The loss of user access to WeChat and Alipay’s Mini Program has dealt a substantial blow to Didi’s business than did the July 4 removal from the App Store. “The main concern is that Didi can’t get new users anymore, while all the competitors are aggressively moving in. It may take a week to see the obvious impact on Didi,” a source at Meituan said.
Didi was established in 2012, and then acquired Kuaidi and Uber China, becoming the current online ride-hailing giant in China.
Beijing announced a cybersecurity review of Didi on the 2nd of this month, followed two days later by an order to take down the Didi app. Yesterday, the market value of Didi fell by more than 30%, and ended at $12.59, down 18.93%. It has been only seven days since Didi was listed in the U.S., but the market value has already fallen to about $60.4 billion, more than $20 billion lower than the $80 billion peak at the opening bell.