Off the wire
• Japan halts imports of live Australian cattle due to detection of Johne's disease  • Japan's defense ministry rescinds order to intercept DPRK missiles  • Turkish president in Kenya for three-day visit  • Spotlight: Chinese peacekeepers bolster security in Africa  • Rwandan, S. Korean firm ink deal to boost ICT cooperation  • Latvian president calls for closer business ties during Iranian FM's visit  • U.S. stocks open lower after Fed Beige Book  • Roundup: Indian court convicts 24 in 2002 anti-Muslim riot  • Iraqi forces gain ground in clashes near IS stronghold in Fallujah  • Germany pledges to protect economy interests in coal exit  
You are here: 　 Home

Didi in new funding round over 3.5 bln USD: Executive

Xinhua, June 2, 2016 Adjust font size:

Chinese e-hailing company Didi said on Thursday that it wants to raise more than 3.5 billion U.S. dollars after rival Uber announced fresh funding that values the company at over 60 billion dollars.

Didi president Jean Liu told a conference in California that its fundraising is ongoing and that the company is looking for strategic investors similar to Tencent and Alibaba.

Tencent and Alibaba were early backers of two companies that merged to become Didi in February last year, putting an end to a year of bitter competition.

Uber announced this week that it had raised 3.5 billion dollars from the investment arm of the Saudi Arabian government, taking the company's valuation to over 60 billion dollars.

As part of Didi's current funding round, Apple has invested 1 billion dollars into the firm. Endi