Alibaba and Ant Financial ready $400m Didi Chuxing investment

May 26, 2016 • Robert Lavine

Existing investor Alibaba is reportedly set to join financial services affiliate Ant Financial to reinvest in Didi Chuxing, likely as part of a $3bn round.

E-commerce firm Alibaba and its financial services affiliate Ant Financial are lining up a $400m investment in China-based ride hailing service Didi Chuxing, China Money Network reported today, citing a Tencent Technology article.

Formerly known as Didi Kuaidi and formed through the merger of ride hailing apps Didi Dache and Kuaidi Dache, Didi Chuxing has a reported 87% share of China’s ride ordering market, operating a service that covers taxis, buses and chauffeured cars.

Alibaba and Ant Financial would each…

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