Didi Chuxing, the on-demand giant that drove Uber out of China, is set to become the world’s second-highest valued tech startup.
Beijing-based Didi is in the process of raising a round that could reach as high as $6 billion at a valuation that would exceed $50 billion, a source with knowledge of discussions told TechCrunch. That’s not far from Uber itself, which is said to be valued at over $60 billion. Bloomberg originally reported the raise, rumors of which first began circulating last month.
Didi declined to comment.
The new deal would represent a significant hike on the company’s most recent $28 billion valuation when it closed a colossal $7.3 billion investment that included money from Apple and China Life.
The $50 billion-plus valuation would also make Didi the tech industry’s second highest valued startup (‘or private tech firm’) behind only……