DiDi(DIDIY) 钛媒体APP·2025-04-09 03:27Core Viewpoint - Didi is restarting its food delivery business in Brazil under the "99 Food" brand, aiming to provide integrated services in local transportation, payment, and delivery [2][4]. Group 1: Market Context - Didi previously exited its non-core domestic businesses in early 2019, leading to the international expansion of its food delivery services, initially targeting Mexico and Brazil [2]. - The Brazilian food delivery market is highly competitive, dominated by players like iFood, which holds 80% market share, and other local competitors such as Rappi and Loggi [2][3]. - As of 2023, the Brazilian food delivery market has grown by 50.8% since 2019, reaching a total size of 1.39 trillion Brazilian Reais, with an annual growth rate of approximately 15%-20% [4]. Group 2: Strategic Focus - Didi plans to target underdeveloped markets in Brazil, focusing on small and medium-sized cities, where food delivery penetration is below 5% [3][4]. - The company has established partnerships with over 30,000 merchants in Brazil, aiming to expand its delivery network in smaller towns [3]. Group 3: Competitive Landscape - Didi's main competitor in smaller towns will be aiqfome, which has a revenue of 1.4 billion Reais and operates in 700 cities with over 2 million monthly orders [3]. - Didi's previous experience in Mexico, where it has achieved over 50% market share in food delivery, will inform its strategy in Brazil [5]. Group 4: Financial and Operational Strategy - Didi has launched a digital wallet, "99Pay," and acquired Brazilian fintech BePay to enhance its payment ecosystem, which includes cash, installment payments, and instant payments [6]. - The company plans to expand its food delivery services to all state capitals in Brazil within three years and aims to establish cross-border delivery networks with Argentina and Chile [6].