July 22, 2017

SoftBank investing $5 billion in China ride hailing firm Didi Chuxing

SOFTBANK CORP.; Tokyo Shiodome Bdg.
[GFDL, CC-BY-SA-3.0, CC BY-SA 2.1 jp or CC BY-SA 2.5], via Wikimedia Commons

SoftBank Group Corp said it has agreed to invest $5 billion in China’s Didi Chuxing, confirming it led a recent fund-raising round by the ride-hailing firm that sources said valued Didi at more than $50 billion.

Didi said last month it raised more than $5.5 billion to expand its business overseas and develop artificial intelligence technology. Sources had said investors included SoftBank.

A SoftBank spokesman said on Friday […]

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