Didi’s community group buying business shrinks with lay-offs across China as biggest players eye domination

Chengxin Youxuan, the community group buying business of ride-hailing giant Didi Chuxing, has closed operations in a number of cities resulting in lay-offs, as the whole industry faces a reality check amid fierce competition and tighter regulation.The shrinking community group buying unit adds to Didi’s wider woes amid an ongoing cybersecurity probe of its main ride-hailing business. Chenxin Youxuan emerged as a major player in the country’s community group buying industry soon after its launch…

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