China-based Didi Chuxing Raises $500 million from US-based Travel Firm
Didi Chuxing, a China-based ride-hailing online company has secured funds amounting to $500 million from a US-based travel company known as Booking Holdings.
The basic aim of this funding round is to bolster the company’s plans to make an entry into the fresh markets outside of China. Both the companies announced the investment in a joint statement, however, its details were undisclosed.
After this funding round, the valuation of the company has reached $56 billion. Didi Chuxing is also expected to go public and launch an initial public offering (IPO) in the near future.
The deal will witness Booking work in association with Didi to offer its on-demand car services through its Booking.com apps. In the same way, Didi customers will have the option to book hotels through Booking.com...