Chinese ride-hailing giant Didi Chuxing is near an agreement to raise $5 billion to $6 billion for automated driving expansion, Bloomberg reported Wednesday. The financing round will lift Didi’s valuation to a cool $50 billion, up from a previous $34 billion after its acquisition of Uber’s China business. It would make the Beijing-based company the country's top startup by market valuation, even surpassing handset maker Xiaomi, and the most valuable startup in the world after Uber.
Chinese ride-hailing service Didi to receive $5B in funding for automated driving expansion