Outrigger Hotels and Resorts

Published on Tuesday, June 15, 2021

Ride sharing giant Didi Chuxing files for IPO in the US

China's ride sharing market leader Didi Chuxing is set to go public in the US.

It filed for an IPO in what may be one of the biggest tech public offerings of the year.

It listed a placeholder offering of $100 million but that will likely change and it could raise up to $10 billion on a valuation of up to $100 billion, Reuters reported.

Didi had about a third of the ride hailing global market share, just behind Uber, prior to the pandemic, and posted a profit in the last quarter.

It posted revenue of $21.6 billion last year.

Didi was last valued at $62 billion after its most recent funding round nearly a year ago.

It has nearly 500 million annual active riders.

Although its core market is China it has a presence in more than a dozen other countries.

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