Didi Chuxing is a company that constantly gets huge numbers in funding rounds to hold on as the top name in ride hailing in the Chinese market and keep a hefty war chest in case expansion is on its plate. In a recent report, The Wall Street Journal says that the Beijing-based company raked in $7.3 billion.
One big name that invested in Didi Chuxing this round was Apple which dropped $1 billion. This round bumps the company’s value to $25 billion, still putting it some ways from Uber, but it’s an amount you can’t sneeze at when a company isn’t spread globally or even heavily throughout a continent, but in a particular country where it holds almost 90-percent of the market.
In a way Didi Chuxing has started to expand via an Uber alternative alliance as it is working in cooperation with Lyft, Ola, and other ride hailing companies. When a rider with the Didi Chuxing app uses it in market where the company doesn’t have a presence but has a service ally—say Lyft—they can hail a Lyft ride and vice versa.