Didi Chuxing, China’s ridesharing giant, is pondering a move to raise $4 billion to meet the surging demand for group-buying delivery services, Bloomberg reported on Friday (Feb. 5), citing sources.
SoftBank-backed Didi is considering earmarking $3 billion to assist its group-buying unit Chengxin Youxuan, according to the source, per Bloomberg. It’s also in talks with advisers to raise about $1 billion from other investors, the sources said.
As China’s community business gains increasing traction, new funding could help DiDi stay competitive. The community group-buying trend enables people to order groceries as separate groups for delivery.
Indian tech giants Alibaba, Meituan and Pinduoduo have…