China’s Didi Said Near Deal to Become Most Valuable Asia Startup
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Ride-hailing service plans to raise at least $5 billion
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Didi said to raise funds for automated driving expansion
Ride-hailing giant Didi Chuxing is near an agreement to raise at least $5 billion in a deal that would make it the most valuable startup in China, according to people familiar with the matter.
The round may close as soon as this week and would lift Didi’s valuation to about $50 billion, up from a previous $34 billion after its acquisition of Uber Technologies Inc.’s China business, said one of the people, asking not to be identified because the matter is private. That would surpass the level reached by smartphone maker Xiaomi Corp. and make Didi the most valuable startup in the world after Uber. Didi’s investors include SoftBank Group Corp., Silver Lake Kraftwerk, China Merchants Bank Co. and an arm of Bank of Communications Co., the people said…
China’s Didi Said Near Deal to Become Most Valuable Asia Startup
