Saturday, 7 May 2016


China's Didi Kuaidi could be on brink of uberific funding

The big ride-sharing company stocks up as it goes toe-to-toe with Uber, Bloomberg reports.
                             
Liu Qing, president of Didi Kuaidi, could soon be at the helm of the world's fourth-most valuable startup.


ChinaFotoPress

Didi Kuaidi may be getting uber big.

China's biggest ride-hailing company, which competes with Uber for passengers and drivers in the world's biggest country, is on the brink of a new $2 billion financing round, according to Bloomberg.

The funding round could close in the next few weeks and give the company a valuation of $25 billion, Bloomberg reported, citing people familiar with the situation.

Bloomberg said Didi Kuaidi would be the fourth-most valuable startup in the world if the deal closes. Uber is the most valuable.

Didi Kuaidi didn't respond to a request for comment.

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