Alibaba and Tencent are reportedly both investing in a round expected to close this month which will value the ride hailing service at over $25bn.
China-based ride hailing company Didi Kuaidi is set to close a $1.5bn funding round that would value it at more than $25bn, the Wall Street Journal reported on Thursday citing people familiar with the matter.
Internet company Tencent and e-commerce group Alibaba are both investing in the round and are set to participate alongside other existing backers as well as new investors. The round is expected to formally close later this month.
Formed by the merger in February 2015 of…
