#Asia Brief: China’s Didi to be valued $50b after reported $6b round


Photo credit: Didi Chuxing.

The news:

  • China’s leading ride-hailing app Didi Chuxing is raising as much as US$6 billion in new funds from investors such as SofBank, according to *Reuters* sources.
  • The latest round, reportedly for international expansion, will value the company at over US$50 billion.

Why it matters:

  • This financing would catapult Didi into becoming China’s most valuable startup, beating smartphone maker Xiaomi, which got the title after a 2014 round worth US$46 billion.
  • It will fuel Didi’s overseas expansion amid a threat from local regulatory changes. Some rules previously released would slash the number of its drivers and double the fares of its users in major cities.
  • Since acquiring Uber’s unit in the nation, Didi has invested in a similar app in Brazil and opened a lab in Silicon Valley that’s focused on artificial intelligence.

Source: Reuters

This post Brief: China’s Didi to be valued $50b after reported $6b round appeared first on Tech in Asia.

from Startups – Tech in Asia http://ift.tt/2p6Llqs

This entry was posted in #Asia by Startup365. Bookmark the permalink.

About Startup365

Chaque jour nous vous présenterons une nouvelle Startup française ! Notre pays regorge de talents et d'entrepreneurs brillants ! Alors partons à la découverte des meilleures startup françaises ! Certaines d'entre elles sont dans une étape essentielle dans la vie d'une startup : la recherche de financement, notamment par le financement participatif (ou crowdfunding en anglais). Alors participez à cette grande aventure en leur faisant une petite donation ! Les startups françaises ont besoin de vous !