Dec
20

China’s Didi Is Valued at About $56 Billion After Funding

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  • Ride-hailing giant completes $4 billion equity funding round
  • Abu Dhabi’s Mubadala said to participate in financing

Didi Chuxing, China’s biggest ride-hailing app, increased its valuation to about $56 billion after completing a new funding round of more than $4 billion, people familiar with the matter said.

The financing increases its cash reserves to $12 billion and includes backing from Abu Dhabi’s Mubadala, the people said, asking to not be identified as the details are private. The company was previously said to be valued at $50 billion. Didi confirmed the $4 billion round and said it will help fund international expansion while SoftBank Group Corp. said it took part…

China’s Didi Is Valued at About $56 Billion After Funding

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