Didi Chuxing could reach up to $80bn valuation after proposed IPO

By BizClik Admin
Share

Chinese ride-hailing giant Didi Chuxing is reportedly in talks to issue an IPO which will bring the company up to a value of $70-80bn.

The Wall Street Journal has reported from unnamed sources that the company could go public by the end of 2018.

Didi’s most recent valuation in December 2017 put it at $56bn, as it raised $4bn in a funding round led by Softbank. Meanwhile, its sometime rival Uber was valued at $68bn in June 2016, with more shares having been purchased since then.

See also:

Uber rivalry goes global: Didi Chuxing to launch in Mexico

Did Chuxing introduces cashless payments in Hong Kong

Didi Chuxing to launch in Taiwan ahead of global expansion

Didi is the largest ride-hailing company in China, having bought out its rival Uber in the region in 2016. Uber and its investors ended up with a 20% stake in Didi, and Didi invested $1bn in Uber as part of the acquisition.

Didi moved into the Latin American market last year by acquiring Brazilian ride-hailing service, 99, for $600mn. It has now announced it will expand to Mexico which will step up competition with Uber, as the US tech company still has a presence there.

It has also been reported that Didi’s main Chinese rival, Meituan-Dianping is also moving forward with plans for an IPO.

Didi’s proposed IPO will be one of the biggest technology IPOs ever. Uber is also reportedly preparing for its own IPO but this is not likely to take place in the near future.

The Wall Street Journal also cited that Didi’s website has 450mn users currently, and operates an average of 30mn rides per day.

 

Share

Featured Articles

Nirvik Singh, COO Grey Group on adding colour to campaigns

Nirvik Singh, Global COO and President International of Grey Group, cultivating culture and utilising AI to enhance rather than replace human creativity

How Longi became the world’s leading solar tech manufacturer

On a mission to accelerate the adoption of sustainable energy solutions, US$30 billion Chinese tech firm Longi is not just selling solar – but using it

How Samsung’s US$5billion sustainability plan is working out

Armed with an ambitious billion-dollar strategy, Samsung is on track to achieve net zero carbon emissions company-wide by 2050 – but challenges persist

UOB: making strides in sustainability across Southeast Asia

Sustainability

Huawei smartwatch goes for gold with Ultimate Edition

Lifestyle

How IKEA India plans to double business, triple headcount

Corporate Finance