Alibaba and Legend Holdings have achieved exits as the chauffeured lift service, spun out of CAR 18 months ago, floated in China.
UCar, the China-based chauffeured lift startup that counts e-commerce company Alibaba and conglomerate Legend Holdings as investors, has gone public in its home country, China Money Network reported today.
The amount raised by UCar has not been revealed but the initial public offering valued the company at RMB36.9bn ($5.53bn), giving it the second largest market cap on the National Equities Exchange and Quotations market, behind investment firm JD Capital.
Spun out of car rental service CAR in January 2015, UCar…
