Inside Didi's Massive IPO Filing – Crunchbase News

Inside Didi's Massive IPO Filing – Crunchbase News

Chinese ride-hailing company Didi Chuxing has filed to go public in the United States. Didi is more or less the Uber of China. In fact, the company bought Uber’s operations in China back in 2016. And now it’s looking to go public in a deal that could value it at more than $70 billion, according to The Wall Street Journal. Backed by investors including SoftBank and Toyota, Didi last raised venture financing with a $500 million round led by SoftBank in May 2020, per Crunchbase. It also raised $1.5 billion in debt financing in April 2021. SoftBank, Uber and Tencent are among the largest shareholders in the company, which is based in Beijing. Uber became a stakeholder in the company after selling its Chinese operations to Didi. Didi operates in 15 countries and has 493 million annual active users, along with 15 million annual active drivers, according to its F-1. The company reported having 41 million average daily transactions on its platform. In terms of numbers, the company reported $21.6 billion in revenue last year. Although that figure is down …
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