Dadao car-sharing faces financing difficulties

February 2, 2019 3:20 pm

Sina tech reported that car-sharing startup Dadao is probably facing financing difficulties as the fundraising process did not go very well. Dadao has already did several rounds of layoffs, cutting 80 percent of staffs with only 20-30 staffs remain employed. Dadao officially announced that the number of remain-employed staffs are those in Beijing headquarter, not including those in other offices in other places.

Liu Hui, the CEO of Dadao, said on November 1, 2018 that Dadao gain a net income of $740 per car per month and achieved a net gain. It is only three months later that Dadao has already did several rounds of layoffs. Other than probable financing difficulties, Dadao’s car and market operations are facing problems as well, that being said cars need maintenance.