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在线翻译:
szdaily -> Business
Didi cashes up to go global in  Uber battle
    2017-December-28  08:53    Shenzhen Daily

DIDI Chuxing has scored another investment from SoftBank Group Corp. in a massive funding round that will bankroll the Chinese ride-hailing leader’s exploration of new markets and technologies.

Didi said it’s secured new financing of more than US$4 billion. That pushed its valuation to about US$56 billion and lifts cash reserves to US$12 billion, sources familiar with the matter said. The 5-year-old company now intends to expand internationally as well as develop self-driving and electric vehicle systems, it said in a statement.

Didi, the world’s second-most valuable startup, dominates ride-hailing in China after pushing Uber Technologies Inc. out of the market.

The Beijing-based company has started taking steps beyond the mainland, backing Estonian player Taxify while preparing a push into Taiwan via a franchising model.

That expansion coincides with a difficult period for Uber, which is grappling with heightened regulatory scrutiny in Europe as well as mounting losses.

“The new round is pretty important for Didi. With the Chinese market very much stabilized, Didi has to go out to find new growth opportunities,” said Will Tao, an analyst with consultancy iResearch.

“Its first steps in overseas expansion should be in Southeast Asian markets like Vietnam and Malaysia, because Uber has a strong presence in Europe and the United States.”

The new funding comes after Didi raised more than US$5.5 billion in April, a record round led by SoftBank that was said to value the startup at US$50 billion.

Matthew Nicholson, a spokesman for Tokyo-based SoftBank, confirmed the latest investment came from the company itself rather than the SoftBank Vision Fund spearheaded by Masayoshi Son. Abu Dhabi’s Mubadala also took part in the latest financing, sources said.(SD-Agencies)

 

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