Didi Raises $5.5 Billion to Help Fund International Expansion (Apr 28, 2017)

Chinese ride-sharing company Didi Chuxing has raised what Bloomberg says is the largest single funding round ever, apparently to help pay for a long-expected international expansion. Didi now of course owns Uber’s business in China and also received a billion-dollar investment from Apple last year, but has mostly stuck to its home market for now. People in the know have been saying it was going to start trying to build a business outside of China for some time, so this move isn’t that surprising, but it’s almost certain to bump up against its part owner Uber in at least some markets given the latter company’s international reach, which could get interesting. Big Chinese tech companies have mostly failed to expand much beyond China with the exception of those selling cheap electronics, and Didi will face an uphill battle in ride sharing markets internationally unless it partners with local players (possibly including Uber). I’m very curious to see which markets it goes after and how.

via Bloomberg

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• Didi
• Uber

• China
• Funding
• Ride sharing

• Chinese Expansion
• Tech Disrupts Transportation

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