Chinese ride-hailing giant, Didi Chuxing is raising between $5 and $6 billion in a funding round that would value the company at around $50 billion, according to various reports. Uber China, a regional subsidiary of the ride-hailing service, merged with Didi in a deal worth $35 billion last August.
The new valuation of more than US$50 billion would make Didi China's second-most valuable privately owned firm. Didi Chuxing will also use the funds to research driverless vehicle technology and other high-technology advanced transportation systems.
Softbank, Silver Lake, China Merchants Bank and an arm of Bank of Communications are believed to be among the investors behind the latest injection of funds. While the four-year-old start-up has so far focused on ride-hailing services in the domestic market, it's looking to expand into more countries and invest in technologies from autonomous driving to artificial intelligence.
"Investors' support reflects strong confidence in the vision and stewardship of Didi's management".
With the launch of Didi Labs in Mountain View, California earlier this year, the company aims to attract more talent and explore new investment opportunities.
According to sources, part of the latest capital investment would be used for worldwide expansion.
Cheng and President Jean Liu hope that adopting driverless technology will help overcome such hurdles in the future.
Didi is China's dominant taxi app business - although it now calls itself a "transportation platform" - and, like many Chinese tech-based businesses - is active beyond China. Last year, Apple also announced a $1 billion investment in Didi Chuxing for co-developing a big-data algorithm to drive service and efficiency. It's already lured dozens of stalwarts in the field including former Uber auto-security expert Charlie Miller, known for remotely hacking into a Jeep Cherokee in 2015.
In yet another attack on an Army camp, terrorists killed three soldiers, including a captain in Jammu and Kashmir's Kupwara. The Indian Army said that two attackers were also killed in gunfire that continued for almost four hours.
In March, the Wall Street Journal reported that Musk had launched a company through which computers could merge with human brains. The famous actress shared a picture of her and Elon on Instagram , showing her resting her arm against her boyfriend.
In even more exciting news, Entertainment Weekly reports that "many actors, including A-list talent, are vying for key roles". McG is only the latest filmmaker to be connected with Masters of the Universe and, eventually, leave the project.
If you're looking to pick up a first-place deal on the hectic racer, here are the best prices on Mario Kart 8 Deluxe in Australia. There is now no existing Nintendo Switch and " Mario Kart 8 Deluxe " game bundle in the US.
AT&T posted an operating margin of 30.1% and a best-ever EBITDA margin of 41.8%, and cash from operations came in at $9.2 billion. Postpaid phone churn hit a best ever 0.9% in the USA , while overall wireless postpaid churn was 1.12% including tablet churn .
The Sunderland fans haven't seen their team win a game at the Stadium of Light since they beat Watford before Christmas. Bournemouth manager Eddie Howe: "We are delighted with the result, which is all-important at this stage of the season".
Simon Ourian is a favorite of Kim Kardashian and her family, rapper Iggy Azalea, model Cara Delevingne, and pop diva Lady Gaga. That's always my dream girl. "That is always family - and when I say that, I say that to a level of I will always love her".
DiCaprio marched alongside an indigenous rights group, carrying a sign saying, "Climate change is real". The march is intended for people to show support for policies that address the threat of climate change.
By and large, Nintendo announced gain of 489 billion yen and an operating benefit of 29.4 billion yen for its 2016 fiscal year. Ono projects annual sales of the Switch will grow for the next three years from 8.7 million in 2018 to 18 million in 2020.
Temperatures on Thursday evening will drop into the 50s with a slight chance for rain in northwestern Oklahoma. The expected low will be around 49 with south winds of 6 to 9 miles per hour becoming west in the evening.
Goodyear Tire profit falls 9.8 pct
The company also released its Europe, Middle East, and Africa segment earnings , as well as its Asia Pacific segment earnings . The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink .
1-3 inches of rain expected this weekend
Most of the region will have a brief break from the showers Saturday , with partly cloudy skies and highs in the 50s. A high of 63 and a low of 42 was forecast for Saturday with windy conditions and a chance of showers in the morning.
Senate race ahead for suspended Alabama chief justice Moore
But he has not been successful in seeking other offices, having lost the Republican primary for governor in 2006 and 2010. Kay Ivey moved the date of the Republican primary forward to August 15, followed by a December 12 general election.
Texas House OKs 'sanctuary city' ban with tough jail penalty
Other sheriffs warn the bill could make their jobs harder if immigrants - including crime victims and witnesses - fear the police. But Texas would be the first in which police chiefs and sheriffs could be jailed for not helping enforce immigration law.
Marissa Mayer to make $186 million
Dozens of lawsuits followed, and Verizon leveraged the scandal into a $350 million discount off the initial price for Yahoo. Mayer has about $84 million in stock options and $25 million in restricted stock units, according to the Monday filing.
Uber to take to the skies with 'flying cars'
Uber on Tuesday provided the first details on an on-demand flying taxi service to be called Uber Elevate. Pilot programs will follow, and riders can expect to summon an aircraft on the Uber app by 2023.
Jeff Goldblum is Joining the Jurassic World Sequel
Goldblum responded, "Yeah, but, John, if the Pirates of the Caribbean breaks down, the pirates don't eat the tourists". JA Bayona , known for directing 'A Monster Calls , ' is directing the next installment in Universal's hit franchise.