Ride-hailing services firm Didi Chuxing has embarked on a new fund-raising round that would value the firm at more than US$50 billion, making it China’s second-most valuable privately owned company, according to Reuters.
Didi is seeking up to US$6 billion in the latest funding round that has drawn investors such as Japan’s Softbank Group and private-equity firm Silver Lake Partners, the report said, citing sources familiar with the matter.
The funding is being sought at a much higher valuation compared to Didi’s US$34 billion price tag in August, when it agreed to acquire Uber’s China business.
The new valuation of more than US$50 billion would make Didi China’s second-most valuable privately owned firm.
Ant Financial, an affiliate of Alibaba Group, is currently China’s most valuable privately owned company with a valuation of more than US$60 billion.
Didi will use some of the money from the latest fund-raising exercise to expand overseas.
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