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China’s Didi Raises Over $5.5 Billion in Record Tech Funding – Bloomberg

The round was said to have raised the four-year-old startup’s valuation to about $50 billion, up from a previous $34 billion after its acquisition of Uber’s China business. That price tag would surpass smartphone maker Xiaomi Corp.’s and make Didi the world’s most valuable startup after Uber. Didi amassed $10 billion in cash and equivalents […]

The round was said to have raised the four-year-old startup’s valuation to about $50 billion, up from a previous $34 billion after its acquisition of Uber’s China business. That price tag would surpass smartphone maker Xiaomi Corp.’s and make Didi the world’s most valuable startup after Uber. Didi amassed $10 billion in cash and equivalents last year, but the deal yields more ammunition as it prepares to challenge Uber and Alphabet Inc. in automated driving, and buys the company time to carve out new reven

Source: China’s Didi Raises Over $5.5 Billion in Record Tech Funding – Bloomberg

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