The SoftBank-backed round could give the China-based ride hailing company the financial base it needs to compete internationally, where it may well use its CVC investments to forge a path.
The $5.5bn funding round recently closed by ride hailing service Didi Chuxing made it the second most valuable private company in China, and looks likely to be the one that presages a drive to compete with US-based rival Uber on all fronts.
Didi Chuxing operates an on-demand ride ordering service with the largest market share in China, having seen off its only notable rival, Uber’s Chinese subsidiary, with a $7bn acquisition last year.
The latest funding was supplied by telecommunications…
