China's Ride-Sharing App Didi Raises $4 Billion in New Funding
22 December, 2017, 00:54 | Author: Samuel Sharp
Competition in China's booming mobile payment market is set to intensify, after Didi Chuxing, the country's largest ride-hailing company, acquired a much-coveted license to enter the internet finance sector.
The funds would also help Didi "bring more innovative and diversified transportation services to broader communities around the world".
The latest investment will go towards supporting the company's "AI capacity-building, worldwide expansion, and new business initiatives, including the development of new energy vehicle service networks", according to a brief statement by the company.
According to CNBC, Softbank said it had invested, but did not disclose the amount. Investors in the company include SoftBank Group Corp. and Abu Dhabi's Mubadala Capital, the Journal reported.
The investment would extend Didi's valuation to $56bn.
The company, which has announced plans to expand internationally earlier this year, establishing an global arm in February.
It has also teamed up with overseas competitors, including Lyft in the U.S., Grab in Singapore, Ola in India, Taxify in Estonia and Careem in the United Arab Emirates.
Last month, Uber was said to be worth $54 billion.
Abu Dhabi's Mubadala Investment and Japanese telecoms firm Softbank participated in Didi's $5bn funding round in July, and were widely reported to be among the worldwide investors involved in the latest financing.
The property set aside for the new hockey arena borders on the Cross Island Parkway adjacent to the racetrack's grandstand. Discussions for development of Belmont Park began 12 years ago, but initially did not include a sports arena.
Former tennis star, Anna Kournikova , and her Spanish superstar singer partner Enrique Iglesias have delivered a set of twins . Congrats! But also, who knew? However, the couple did take to social media recently while they were in Miami.
The move gives the Nittany Lions two five-star commitments ranked, with Parsons and wide receiver Justin Shorter . Five-star defensive end Micah Parsons (6-foot-3, 235 pounds, Harrisburg, Pa.) has made a decision!
Instead, what they got was an example of Musk's sense of humor. " By the Gods you've done it ", the message says, CNBC reports . And his message immediately raised speculation about just why he was giving Carmack his personal cell phone number.
FOX Business breaks down how employees at some major companies are benefitting from the corporate world's good fortune. Wells Fargo and Fifth Third Bancorp announced plans on Wednesday to raise their minimum wage to $15 per hour.
Mr Green's letter pointedly stayed that he had been "asked" to resign - indicating his desire had been to tough out the storm. Green, who May appointed First Secretary of State in June, was effectively the prime minister's deputy before standing down.
All casualties were shifted to a hospital where sources initially said they received four dead bodies and around 20 injured. The attack on the Methodist church was the first time ISIS claimed responsibility for a church assault in Pakistan. .
Indeed, price charts showed the price of Bitcoin Cash increasing just prior to the company's official announcement. Bitcoin Cash first surfaced online back in August when a group of developers "forked" the Bitcoin blockchain.
However, the process of setting up subsidiaries is extremely costly. "We'd just walk away from progress if that was the approach". The transition period will include access to the single market but also obligations.
Today we are releasing our Transparency Report, previously called the Government Requests Report , for the first half of 2017. On Instagram, the company removed 10,094 posts following 10,231 counterfeit claims.
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House approves Republican tax overhaul; Senate vote next
The debt is expected to soar by at least $1 trillion more than it would without the tax measure, according to projections . The legislation also reduces tax rate for most individuals, although the tax cuts for individuals are set to expire.
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