China fines Didi $1.8b for mishandlng app user data
Penalty imposed after year-long probe and amounts to about 4.6% of its revenue last year
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China's leading ride-hailing platform Didi was slapped with an 8.6 billion yuan (S$1.8 billion) fine yesterday for mishandling user data. The penalty, which amounts to about 4.6 per cent of the firm's revenue last year, is a culmination of a year-long investigation which saw investor confidence and its stock value plunge.
App stores in the country were also ordered to remove Didi and new users were barred from signing up. The platform delisted from the New York Stock Exchange earlier this year.
