The newly merged ride-sharing company backed by Softbank, Alibaba and Tencent has secured a $600m round.
China-based ride-sharing companies Didi Dache and Kuaidi Dache, collectively backed by internet company Tencent, telecom company Softbank and internet company Alibaba, is set to raise $600m, China Money Network reported earlier today.
The round will be led by hedge fund Coatue Management and featured Farallon Capital Management, as well as a range of unnamed institutional and private investors.
The parties are buying their respective stakes from Kuaidi Dache’s management team who are expected to leave the company within the next…
