Didi Chuxing advances IPO plans to next quarter, targets $62b valuation

Source: Didi Chuxing

Chinese ride-hailing giant Didi Chuxing Technology Co. is accelerating plans for an initial public offering to as early as next quarter to capitalize on a post-pandemic turnaround, people familiar with its plans said.

Didi, the largest investment in SoftBank Group Corp.’s portfolio, is targeting a valuation above the $62 billion it secured during its last funding round, the people said, asking not to be identified discussing an internal matter. The company moved up plans from a previous target of late 2021 after its Uber-like, car-hailing business bounced back with China’s success in bringing Covid-19 under control.

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