ArrowArtboardCreated with Sketch.Title ChevronCrossEye IconIcon FacebookIcon LinkedinShapeCreated with Sketch.Icon Mail ContactPath LayerIcon MailMenu BurgerPositive ArrowIcon PrintIcon SearchSite TitleTitle ChevronIcon Twitter
Nikkei Markets

Didi Chuxing Completes $4 Bln Equity Funding Round - Nikkei Asian Review

By Shunsuke Tabeta
Nikkei Staff Writer
BEIJING (Dec 21) -- Chinese ride-hailing leader Didi Chuxing said Thursday it has raised $4 billion in fresh capital from an undisclosed source.

A fund set up by Japanese information technology conglomerate SoftBank Group and one based in the Middle East are believed to be among those who provided the cash.

Didi said it plans to use the funds to accelerate the development of artificial intelligence in areas such as big data analysis, to expand its overseas operations and to build a transportation network with "new energy vehicles," as electric vehicles and plug-in hybrids are called in China.

Since its inception in 2012, Didi has become China's top ride-hailing service by merging with a major domestic rival and buying the Chinese operations of U.S. ride-hailing app operator Uber Technologies.

Didi has over 450 million users in its home market and 21 million registered drivers. Each day it offers 25 million rides to customers, according to the company.

It has also teamed up with overseas competitors, including Lyft in the U.S., Grab in Singapore, Ola in India, Taxify in Estonia and Careem in the United Arab Emirates. It now operates in 1,000 cities around the world and reaches over 60% of the world's population, the company says.

In April, Didi raised $5.5 billion from SoftBank and others.
- By Shunsuke Tabeta, Nikkei Staff Writer
- Nikkei Asian Review
- Send Feedback to feedback@nikkeinewsrise.com
- Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.

Get unique insights on Asia, the most dynamic market in the world.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Get Unlimited access

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends January 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media