Just days after its initial public offering in New York, Chinese ride-hailing service Didi has seen its app pulled from China's app stores Sunday, putting a halt to new user registrations.
The Cyberspace Administration of China (CAC) ordered the removal of the app Sunday evening, citing serious violations of the country's laws about collection and usage of personal information. It did not provide more specifics. This followed the Cyberspace Administration's announcement of a security review of the company Friday evening. That announcement caused the price of the company's newly minted shares to drop by 5.3% in Friday trading in New York.
Didi responded that it would remove its app from app stores and make changes to comply with rules and protect users' rights. The app and service are still operating for existing users, according to reports.
Didi's IPO valued the company at US$67 billion. The company claims to have nearly 500 million active annual riders. It operates in 15 countries other than China.
