After years of speculation, Didi Chuxing, China’s ride-sharing behemoth, finally unveiled its IPO filing in the U.S., giving a glimpse into its money-losing history.
Didi didn’t disclose the size of its raise. Reuters reported the company could raise around $10 billion at a valuation of close to $100 billion, though The Wall Street Journal cited a valuation upward of $70 billion. Uber’s market cap currently exceeds $90 billion.
Cheng Wei, Didi’s 38-year-old founder owns 7% of the company’s shares and controls 15.4% of its voting power before the IPO, according to the prospectus. Major shareholders to reap returns are SoftBank …
