Hyperdrive
Didi Accelerates IPO Plans, Targeting Valuation Above $62 Billion
- Didi Chuxing now targeting the summer for its mega-IPO
- Japan’s SoftBank has biggest investment in ride-hailing leader
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Chinese ride-hailing giant Didi Chuxing Technology Co. is accelerating plans for an initial public offering to as early as next quarter to capitalize on a post-pandemic turnaround, people familiar with its plans said.
Didi, the largest investment in SoftBank Group Corp.’s portfolio, is targeting a valuation above the $62 billion it secured during its last funding round, the people said, asking not to be identified discussing an internal matter. The company moved up plans from a previous target of late 2021 after its Uber-like car-hailing business bounced back with China’s success in bringing Covid-19 under control.