Chinese car-hailing giant Didi Chuxing holds talks about an IPO
According to a report, Chinese ride-hailing giant, Uber’s strong competitor, Didi Chuxing is holding talks about an initial public offering (IPO).
The company could go public as early as the second half of 2018, the source said, but as talks are in the early stages a set date for the listing is not entirely clear.
After raising $4 billion from investors including Japanese conglomerate SoftBank last year, Didi now wants to reach a valuation of between $70 and $80 billion through an IPO, reported by the source.
Didi Chuxing bought Uber's business in China in 2016. After fierce competition, it’s clear that Didi is the biggest platform for car-hailing so far in Chinese market. Recently, Didi said that it wants to expand its service to Taiwan. Also, Didi has expressed that it was expanding its service to Mexico, which marks the first instance of a direct expansion outside of its home market. FuninUSA will continually report on this news.
I personally look to further development of Didi. The company always comes up with smart strategies to confront the competitive market, though a group-buying website Meituan is now trying to expanding its scope of business into car-hailing service. So if Didi finally goes public, I’ll try buying some shares.
