Why is Wanshun Car-Hailing in a Hurry to Go Public?
2 Answers
Wanshun Car-Hailing is in a hurry to go public mainly to increase its brand awareness. Introduction: Wanshun Car-Hailing is a mobility platform that integrates the new transportation model of taxi + internet, channels + users, and a partnership system. In 2017, Wanshun Car-Hailing obtained the "National Online Service Capability Certification for Ride-Hailing Platforms (National License)," becoming the first platform in Guangdong Province and even the entire South China region to receive this certification. Services: Express Ride: Book a ride anytime, anywhere, providing users with economical and fast travel services. Intercity Carpooling: Multiple cross-city carpooling routes, the farther you go, the more cost-effective it is; bus prices with private car treatment.
I think Wanshun is in a hurry to go public mainly for the money. The ride-hailing industry burns cash like crazy—driver subsidies, user coupons, and marketing campaigns all require real money. I saw their draft IPO prospectus last year; they've expanded to over 300 cities nationwide, spending billions just on vehicle compliance upgrades. With giants like Didi and T3 waging price wars daily, Wanshun will run out of ammunition sooner or later if it doesn't go public to raise funds. Besides, their early investors have waited six or seven years for an exit via IPO. If they delay further and a capital winter hits, it'll be even tougher. But going public isn't a cure-all—they need to genuinely grow their user base. I tried Wanshun twice this month, and the wait time was still 50% longer than Didi's.
