China's Ride-Sharing App Didi Raises $4 Billion in New Funding
22 December, 2017, 00:54 | Author: Regina Lloyd
The ride-hailing company has received $4 billion in new funding from investors, increasing its valuation to $56 billion. The move is seen as posing a challenge to United States rival Uber as the Chinese company looks to expand overseas. While the company has focused on shoring up its grip on ride-sharing in China, it has started to look beyond the mainland and is turning to franchising in Taiwan.
On Thursday, Bloomberg reported that Didi is set to turn its attention to the Taiwanese franchise market, while earlier this month Reuters said it plans to expand into Mexico during the course of next year.
Three of the five most valuable startups on the planet - Didi, smartphone maker Xiaomi and Meituan-Dianping - are now Chinese, according to data from CB Insights.
The latest round of funding values the company at around $56bn.
"We will also embark on initiatives in building new energy vehicle service networks, as part of the company's efforts to lead the transformation of automobile and transportation industries and work towards global energy interconnection" the company added.
Didi however, did not disclose the names of the investors in the round.
In April, Didi raised $5.5 billion from SoftBank and others.
Existing investor SoftBank Group Corp also participated in the latest funding, a spokesman for the Japanese firm confirmed, declining to specify the size of its investment.
The debt is expected to soar by at least $1 trillion more than it would without the tax measure, according to projections . Touted as a centerpiece of President Donald Trump's election agenda, the measure now goes to the U.S.
But the ethics commissioner disagreed, indicating that Trudeau had not spoken directly with the Aga Khan in 20 years. Mr Trudeau had previously vacationed on the private island in 2014, when he was an MP.
It's possible that the port is wrongfully identifying the headphone jack adapter as a charger which is why it isn't working. Usually, I request some music, only to have Spotify play out of Google Home and Google Music play from my Pixel 2 XL .
CHIP provides healthcare aid to 9 million Americans; state officials fear that a lapse of CHIP would be detrimental to recipients. The spokesperson added, as of right now, Pennsylvania has not needed to use any reserves to fund the program.
Definers recently filed a motion to have the, contending that its files show no evidence to any work related to the investor . The company says the technology will allow train travel between NY and Washington in less than 30 minutes.
Musk wrote from his account on Tuesday to John Carmack , the chief technology officer of Facebook Inc. -owned Oculus . Representatives for Tesla and Space Exploration Technologies Corp. didn't immediately respond to requests for comment.
A young girl in a white dress sobbed as she recounted the attack to television, saying many people around her were wounded. Hospital officials said two women were among the dead while another five women and two children were among the wounded.
Flu activity in Kentucky now 'widespread'
An annual flu vaccination is recommended for everyone six months and older. "It is not too late to get a flu shot". The total number of people in the county who have been hospitalized with the flu is up to 30, she said.
Lady Gaga heads for Las Vegas concert residency
Live Nation, which has promoted and produced all Gaga's tours, will do the same for this new show. Gaga in a statement Tuesday says it has been her "life-long dream" to perform in Las Vegas .
Data requests from India escalate in 1st half of 2017:Facebook
The social media company also took down 217,265 posts from Facebook driven by counterfeit claims, and 108,094 from Instagram . Compared to the first half of 2016, where the number of requests stood at 6,324, this is almost a 55 per cent jump for 2017.
Singer Jonghyun of K-Pop Group SHINee dead at 27
Entertainment, and has boasted a almost decade-long prolific career not just in group activities but as a solo singer-songwriter. He launched a successful solo career in 2015. "Your music and SHINee's will always be here", wrote one.
NBC looking to revive 'The Office'
There is some sad news though because this new revival of the show will not star Steve Carell as the character of Michael Scott. Just months after bringing back Will & Grace, NBC appears to be making serious moves to revive The Office .