Cheng Wei

Didi Chuxing Bought Uber In China For $35 Billion

Uber, a San Francisco-based technology startup focused on online transportation just sold its Chinese operation to DiDi Chuxing. In this merger deal, Didi will make a $1 billion investment in Uber global at a $68 billion valuation, while Uber China’s investors will own 20% of the merged Chinese company, which will be worth $35 billion. [UBER NEWS ROOM]

Founded in 2012, DiDi is the world’s one of the largest mobile transportation service platforms, offering a broad range of mobile technology-based transportation options across over 400 major Chinese cities.”Didi Chuxing will also continue to expand its international strategy. We look forward to working with our partners at home and abroad to create more value for drivers, passengers, and communities,” Jean Liu, president of Didi Chuxing said in a statement on Monday. According to Uber CEO Travis Kalanick “Getting to profitability is the only way to build a sustainable business that can best serve Chinese riders, drivers and cities over the long term.” He also said:”I have no doubt that Uber China and Did Chuxing will be stronger together.”

Uber investors had been pushing for such a transaction for quite a while. Uber has been losing money in China for last two years, around a Billion each year. Uber has been the fastest growing tech company in the history of and it is also reported that it does not have any plan going to IPO soon.

UBER TOTAL FUNDING : $15.5B IN 17 ROUNDS : [ Via Venture Pulse Data ]

DateFunding AmountFunding RoundLead VC/Investor
Jul, 2016$1.15BDebt FinancingMorgan Stanley
Jun, 2016$3.5B Private EquitySaudi Arabia's Public Investment Fund
Feb, 2016$200MPrivate EquityLetterOne
Jan, 2016$2B Private Equity
Sep, 2015$1.2BPrivate EquityBaidu
Aug, 2015$100M Private EquityTata Opportunities Fund
Jul, 2015$1B Series F
Feb, 2015$1BSeries E
Jan, 2015$1.6BDebt FinancingGoldman Sachs
Dec, 2014$600MSeries EBaidu
Dec, 2014$1.2B Series E
Jun, 2014$1.4BSeries DFidelity Investments
Aug, 2013$258M Series CGV
Dec, 2011$37MSeries BMenlo Ventures
Feb, 2011$11MSeries ABenchmark
Oct, 2010$1.25MAngelFirst Round
Aug, 2009$200kSeed

UBER ACQUISITION : (1) [ Via Venture Pulse Data ]

DateAcquiredAmount
Mar 3, 2015deCartaUnknown

DIDI CHUXING TOTAL FUNDING : $9.82B IN 7 ROUNDS : [ Via Venture Pulse Data ]

DateFunding AmountFunding RoundLead VC/Investor
Jun, 2016 $2.5BDebt FinancingChina Merchants Bank
Jun, 2016$4.5BPrivate EquityApple
Jul, 2015$2BPrivate Equity
Dec, 2014$700MSeries DTemasek Holdings
Jan, 2014$100MSeries C
Jul, 2013$15MSeries BTencent Industry Win-Win Fund
Sep, 2012$3MSeries AGSR Ventures

DIDI CHUXING ACQUISITION : (2) [ Via Venture Pulse Data ]

Date AcquiredAmount
Aug 1, 2016Uber China
Feb 14, 2015
Kuaidi Dache

DIDI CHUXING INVESTMENTS : (4) [ Via Venture Pulse Data ]

DateCompany NameAmountFunding Round
Dec, 2015Lyft$1BSeries F
Nov, 2015Ola$500MSeries F
May, 2015Lyft$150MSeries E
Mar, 2015Lyft$530MSeries E