Home / TechnologyNews / Chinese ride-sharing firm Didi Chuxing raises $4 billion – sources

Chinese ride-sharing firm Didi Chuxing raises $4 billion – sources

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

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