Chinese Uber competitor Didi Chuxing reportedly in talks to launch $80B IPO
Chinese Uber competitor Didi Chuxing reportedly in talks to launch $80B IPO. Chinese ride-hailing giant Didi Chuxing is holding talks about an initial public offering (IPO), according to a report. DidiChuxing was last valued at more than $50B in December, after raising after raising $4B from investors including Japanese conglomerate SoftBank.
It now wants to reach a valuation of between $70 and $80B through an IPO, The Wall Street Journal reported, citing unnamed sources. The company could go public as early as the second half of 2018, sources told the WSJ, but as talks are in the early stages a set date for the listing is not entirely clear. Read more here.
Didi Chuxing, the world’s leading mobile transportation platform, together with 31 of its auto industry partners, today announced the launch of the DiDi Auto Alliance (the “D-Alliance” or the “Alliance”). For the first time, the Alliance will bring together resources and the strengths of the new mobility sector with those of key links in the automotive industry chain, with the aim to develop a full-capacity vehicle operator platform designed to embrace the upcoming transportation revolution.
Partners believe the project is crucial in creating a user- and owner-centered auto ecosystem that is oriented towards a future industry driven by coordinated advances in new energy vehicles, intelligent driving technologies and shared mobility modes.