Sunday, 2024 February 25

SoftBank will invest another USD 1.6 billion in Didi Chuxing

SoftBank’s founder and CEO Masayoshi Son revealed in an interview with CNBC that the company is injecting an additional USD 1.6 billion into Didi Chuxing, its third investment following earlier rounds.

Didi received capital worth almost USD 8 billion from SoftBank in 2017.

Although Didi is yet to make a profit, Son considers investment in China’s largest ride-hailing company “reasonable” because it grows so fast.

Didi generated a RMB 10.9 billion (USD 1.61 billion) deficit in the 2018 financial year, according to leaked information.

Didi hasn’t yet responded to KrAsia‘s request for comment.

Jingli Song
Jingli Song
I believe Chinese innovation at various level needs to be known by the world.

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