Chinese ride-hailing giant Didi Chuxing, the company that bought Uber’s China business last year, has closed a $5.5 billion funding round, making it one of the world’s most valuable private technology company.
Didi said the round will be used “to support its global strategy and continued investments in AI-based technologies,” in a statement.
CNBC reported that Didi was in talks to raise a new round of money on Wednesday that could put the valuation at around $50 billion. This would make it on of the largest private technology companies behind Uber which is worth around $60 billion.
Didi declined to disclose the investors in the latest round or its valuation.
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