BEIJING (Reuters) – Chinese ride-hailing service Didi Chuxing Technology Co, China’s rival to Uber Technologies Inc, has raised $4 billion in a new round of funding, two sources familiar with the deal told Reuters on Thursday.
The round values the firm at close to $50 billion and pre-existing investor Softbank Group Corp is a participant, one of the people said.
The Wall Street Journal earlier reported the fund-raising on Thursday, and said that Abu Dhabi state fund Mubadala Capital also participated in the round.
(This story has been refiled to correct spelling of “fund-raising” in final paragraph)
Reporting by Cate Cadell; Editing by Stephen Coates