China-based tour sharing company Didi Chuxing is reportedly considering an initial public offering as early as the second quarter of this year, setting up another payday that could be a big hit for SoftBank, the largest start-up investor.
According to Bloomberg, Didi is aiming for a valuation north of its latest round valuation of $ 62 billion. The report, cited by people familiar with Didi’s plans, noted that the company has accelerated its IPO plans after a recent backlash as China’s economy began to recover. Covid-19 pandemics. Per Bloomberg, the company may choose to list in Hong Kong, although no final decision has been made.
Didi did not answer Barron’s request for comment.
(ticker: SFTBY) Didi has about 20%, Barron’s learned, which makes it Didi’s single largest investor. At a valuation of $ 60 billion, the bet was worth around $ 12 billion.
SoftBank and its flagship venture capital portfolio, the Vision Fund, have benefited from a number of recent events, including the food delivery service.
(DASH) and Korean e-commerce giant
SoftBank was also invested in the Indonesia e-commerce company Tokopedia, which confirmed that they were considering leaving. Compass real estate company, another SoftBank holder, recently applied for an original offer.
According to Crunchbase, Didi has raised $ 21.2 billion in venture capital. In addition to SoftBank, investors in Didi include
(BKNG), and investment firms Matrix Partners and Mubadala Capital, among others.
SoftBank shares closed Friday 1.7%, to $ 45.20.
Write to Eric J. Savitz at [email protected]