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China's Didi cashes up to go global in next stage of Uber battle

Didi, the world's second-most valuable start-up, dominates ride-hailing in China

Bloomberg 

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 ...

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First Published: Fri, December 22 2017. 03:34 IST
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