CHINA / Didi Kuaidi is about to become China’s second most valuable startup

If Didi Kuaidi manages to raise a US$2 billion round at a US$15 billion valuation, it would propel it to the number two spot behind smartphone maker Xiaomi.

Didi Kuaidi is raising an investment round of up to US$2 billion, according to sources cited by Reuters.

Bloomberg originally broke news of the deal earlier this month, but initial estimates pegged the round at US$1.5 billion. That may now be driven up to US$2 billion due to strong demand, the latest report by Reuters said on Friday.

Also Read: How to build smart startup workspaces with the man behind Tencent’s new building

The deal would value Didi Kuaidi in the region of US$15 billion, and make it the second most valuable Chinese tech startup after smartphone maker Xiaomi, now valued at US$45 billion. Uber’s valuation, meanwhile, is closer to US$50 billion.

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