The Chinese ride hailing service raised $3bn in September from backers including Alibaba, Tencent and Ping An, and is set to close new funding at a $20bn valuation.
Didi Kuaidi, the China-based ride hailing service backed by a host of corporate investors, is raising $1bn in new funding, Reuters reported today, citing people familiar with the plans.
The funding would value Didi Kuaidi at more than $20bn, people familiar with the situation told the Wall Street Journal. The sources have not disclosed the investors in the round, who are still in talks with the company.
Formed by the merger in early 2015 of China’s two largest ride hailing…
