How SoftBank’s six-year, $11b bet on Chinese ride-hailer Didi turned sour

How SoftBank’s six-year, $11b bet on Chinese ride-hailer Didi turned sour

FILE PHOTO: The company logo of ride hailing company Didi Chuxing is seen on a car door in Beijing, China October 18, 2018. REUTERS/Thomas Peter

Like many money-losing tech startups, dominant Chinese ride-hailing company Didi Chuxing has relied heavily on private equity financing since its inception in 2012. Through 23 rounds of financing, Didi raised more than $35 billion from nearly 100 investors, valuing the company as high as $62 billion in an August 2020 fundraising round.

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