Chinese ride-hailing service giant Didi Chuxing confirmed today that it has finalized a funding round of over US$ 5.5 billion, local media is reporting.

Although the company did not reveal its investors or valuation in the new round, it is estimated that the company’s valuation may top US$ 50 billion.

The new funds will be used to promote the company’s global expansion strategy and investment in the field of cutting-edge technologies.

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

What you get

Full access to all premium content and our full archives

Members'-only newsletters

Preferential access and discounts to all TechNode events

Direct access to the TechNode newsroom

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

Sheila Yu

Sheila Yu is a Shanghai-based technology writer. She brings readers the biggest news from Chinese language tech media. Reach her at sheila@technode.com.