Sina Weibo is set to invest $142m in a holding company owned by ride hailing apps Didi Dache and Kuaidi Dache, which agreed in February to merge.
Microblogging platform Sina Weibo has agreed to invest $142m in Xiaoju Kuaizhi, the Cayman Islands holding company of China-based ride-sharing companies Didi Dache and Kuaidi Dache, according to a regulatory filing on Tuesday.
Didi Dache and Kuaidi Dache announced a merger in February 2015, valuing the combined company at $6bn.
Coatue Management, Farallon Capital Management and a range of unnamed investors paid $600m in April for a portion of the common shares in the combined company owned by Kuaidi Dache’s…
