China’s top ride-hailing firm Didi plans to raise $60-$80 billion for its initial public offering in Hong Kong in 2021 and is currently in contact with investment banks, including Goldman Sachs and JPMorgan Chase, according to LatePost.
Leading ride-hailing company Uber Technologies Inc. is seeking to sell part of its $6.3 billion stake in Didi Chuxing, Bloomberg reported.
Within the course of the past week, several prominent Chinese companies made fundraising announcements.
After a record-setting 2018 that saw Chinese VCs ladle out cash to startups at mind-boggling valuations, current numbers spooked global investors, some of whom regard the diminished numbers as a sign of an imminent industry debacle.
A Didi driver broke through a police barrier on June 13, trying to escape examination, injuring four, including one law enforcement officer, according to ThePaper.
Almost three years after Didi emerged triumphant in the war for the Chinese market, the two ride-hailing companies have again clashed over emerging markets like Latin America. As Uber and Didi are at different stages in their development, with different strategies, the key question is: what's next in the race for global mobility domination?
If Didi Chuxing Technology Co., the Uber of China, succeeds in the initial public offering in 2018, it will bypass Uber to become the world's first publicly listed ride-hailing company.
Didi released its 2017 data on the afternoon of January 8. In 2017, Didi provided more than 7.43 billion trips to 450 million users in more than 400 Chinese cities, excluding trips for bikes and driver services. That is roughly equal to everyone in China using Didi five times in the past year.
Two Chinese online life service giants have stepped into the car-hailing business. Ctrip, a leading provider of travel services, launched car rental business together with Didi, Shouqi Group and AA Car Rent. At the same time, Meituan.com, a Chinese group buying website, launched a taxi service in seven cities.
2017 has seen the rise and fall of numerous new technologies and business models, stunning and mediocre products, and the rise and collapse of tech giants. At the end of the year, Tencent launched into the Top 10 companies in technology industry.
Didi's two rounds of financing in 2017 totaled between US $9.5 billion and $10.5 billion. According to a Renaissance Capital report, there were 37 science and technology IPOs in the US that attracted $9.9 billion in financing in 2017. That would mean Didi's total capital raised this year is more than the total technology IPOs…
Li Shufu said Geely, Volvo and other car companies are jointly developing an open electric model under the code PMA. "We've learned from Google's Android, and PMA's pure electric module is open," Li said.