Banks, funds prepare up to $6 billion to fund Didi - Breaking The News

Banks, funds prepare up to $6 billion to fund Didi

26 April

1 min read

EPA / HOW HWEE YOUNG

Xiaomi Corp. is set to be beaten by Didi Chuxing as the most valuable startup in China, as the Financial Times reported on Wednesday that Uber's biggest ride-hailing rival is looking to tap between $5 billion and $6 billion. The group of financiers is said to include Silver Lake Kraftwerk LP, Japan's SoftBank Group Corp. and two domestic banks.

The new round would also put Didi at the second place in the global scale of the biggest unicorns, with a total of $50 billion, trailing only United States–based Uber, which last year sold most of its operations in China to the giant peer. Fresh funds would enable the company to expand overseas, the article notes and reveals investors wouldn't be given voting rights.

didi chuxing xiaomi silver lake softbank

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