Didi Chuxing Raises $5.5 Billion in World’s Largest Funding

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Didi Chuxing

Didi Chuxing Raises $5.5 Billion in World’s Largest Funding. This will help Didi Chuxing to continue global expansion and to invest deeper into emerging areas like artificial intelligence to bring more advanced systems to its transportation service.The company didn’t close valuation but sources very close to the company have confirmed that it is over $50 billion, with new investors Silver Lake Kraftwerk joining previous investors SoftBank Group Corp., China Merchants Bank Co. and Bank of Communications Co. in this round.

Didi Chuxing – Top News Story of the Day

China’s ride-hailing leader Didi Chuxing is close to finalising a fund-raising deal that would make it the most valuable startup in Asia with a value of USD 50 billion.

Didi Chuxing: Important Information

Year of Foundation  2012
Headquarters  Beijing
Industry  Transport
Areas Served China
 Founders  Cheng Wei, Zhang Bo, Wu Rui
 Valuation  $50 billion

 

About Didi Chuxing

Didi Chuxing, formerly Didi Kuaidi, is a major ride-sharing company, providing transportation services for close to 400 million users across over 400 cities in China. Its headquarters is located in Beijing

 

Didi Chuxing Becomes Asia’s Most Valued Startup

Building on its competitive AI-based analytics capabilities, DiDi is working towards systemic breakthroughs in intelligent driving technologies and smart transportation architecture. With the launch of DiDi Labs in Mountain View in California earlier this year, the company continues to attract the industry’s top minds and explore investment opportunities in core technology areas

Didi Chuxing Looking for Moving Beyond China

When Uber pulled out of China last summer, it appeared to be the end of two years of frenzied competition with the local rival Didi Chuxing. Yet with a new funding round that has brought in $5.5 billion, it seems the Chinese firm  wants to take the rivalry global.
The new financing could bring it back into competition with Uber: Analysts expect the Chinese company to use the funds to push into new markets and to develop autonomous driving technologies.
The fund-raising efforts indicate just how valuable it can be to dominate China, an internet-savvy market with the world’s largest smartphone-using population that is nevertheless largely closed to foreign competition. Despite having done little outside China, the company has been able to raise almost as much money as Uber.

Didi Chuxing and Uber

 Didi Chuxing, the ride-hail app that bought Uber’s Chinese business last summer after a lengthy and expensive battle
 The Beijing-based company doesn’t have any plans to launch a rival service in the US, but the opening of a Silicon Valley-based facility is clearly meant to serve as a shot across Uber’s bow at a time when the company is reeling from multiple scandals. Like Uber, Didi has said it is interested in developing driverless car technology.
 Didi Labs will be led by Fengmin Gong, vice president of the company’s research institute, and will include data scientists like Charlie Miller, the computer scientist who notably hacked a Jeep’s software and stopped the vehicle remotely in 2015.

 

Top Investors of the Company

Alibaba Apple
Ant Financial Bank of Communications
China Life Insurance China Mercants Bank
China Investment Corporation Foxconn Technology Group
Temasek Holdings Silver Lake Partners
Softbank Ping An
DST Global GSR Ventures