Booking Holdings has provided more funding for Didi as part of a strategic partnership, as the latter looks to spin off its vehicle services arm in an IPO sized at up to $1.5bn.
Online travel agency Booking Holdings has invested $500m in China-based on-demand ride service Didi Chuxing as part of a strategic partnership agreement, as the latter company prepares to spin off its automotive services arm.
Didi Chuxing operates a ride hailing platform with more than 550 million registered users that provides some 30 million rides per day, covering a range of options including taxis, buses, minibuses, designated driver services, corporate lifts, bicycle rental and food delivery.
Booking Holdings, which was previously…
