vp

ISSUE – Dec. 22 | Look Out Uber—China’s Didi Just Raised $4 Billion to Go Global in the Ride-Hailing Battle

Didi Chuxing has scored another investment from SoftBank Group in a massive funding round that will bankroll the Chinese ride-hailing leader’s exploration of new markets and technologies. Didi said it’s secured new financing of more than $4 billion. That pushed its valuation to about $56 billion and lifts cash reserves to $12 billion, people familiar with the matter said, asking to not be identified as the details are private. The five-year-old company now intends to expand internationally as well as develop self-driving and electric vehicle systems, it said in a statement. [ Fortune ]

ad

ad