Didi Chuxing is poised to raise $5bn-$6bn from investors, according to two people close to the funding deal, an infusion of cash that China’s ride-hailing group will use to expand its transportation services beyond the country’s borders.
The investment will value the company at $50bn, including the new funds raised, which makes Didi the world’s second most valuable private tech start-up after Uber.
The deal will mark an acceleration of the fundraising bonanza in the ride-hailing tech sector, which has set records for funds raised, partly because ride-hailing companies burn through so much cash.
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