Alibaba- Ant Financial partner to invest $400m in Didi Chuxing

A taxi driver is reflected in a side mirror as he uses the Didi Chuxing car-hailing application in Beijing, China, September 22, 2015. REUTERS/Jason Lee

By Shiwen Yap

May 27, 2016

Alibaba Group Holdings Ltd. is partnering with its Internet finance affiliate Ant Financial Services Group, which operates the payments platform Alipay, to invest an additional US$400 million in Didi Chuxing, the Chinese ride-sharing services firm.

In a report from Tencent Technology, it was observed that there was a lack of clarity on whether this transaction was part of a $2.5 billion funding round or a separate investment from the current round that Didi Chuxing is attempting to raise.

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