Existing backer SoftBank has contributed to a round that took the on-demand ride company's overall equity funding to more than $13.2bn, valuing it at over $50bn.
China-based ride hailing service Didi Chuxing has confirmed it has raised $5.5bn in funding from investors including telecommunications and internet group SoftBank.
The round also featured Silver Lake Kraftwerk, part of private equity group Silver Lake, and financial services firms China Merchants Bank and Bank of Communications, sources “very close to the company” told TechCrunch, adding that it was closed at a valuation of more than $50bn.
Didi Chuxing’s on-demand ride service is by some distance the largest in China…
