Investors behind Didi's acquisition of Uber China are the biggest drivers | Focus

Didi and Uber have four common investors, BlackRock, Hillhouse Capital , Tiger Fund, and China Life. A source revealed that the merger of Tiger Fund and Hillhouse Capital played a crucial role.

"Finance" reporter Gao Honghao/Text

On August 1, Didi Chuxing issued a statement saying that it would acquire Uber China 's brand, business, data and other assets. "Didi has also become the only company jointly invested by Tencent, , Alibaba, and Baidu." Didi said.

Didi Chuxing founder and CEO Cheng Wei described Uber in an internal letter later released as a great rival, an epic showdown.

It is understood that at present, Uber’s global valuation is 68 billion US dollars, Didi Chuxing is 28 billion US dollars, and Uber China’s valuation is 8 billion US dollars. According to Bloomberg , the combined company will be valued at $35 billion.

Didi and Uber China have been fighting in the Chinese market for three years. In January 2016, Uber CEO Travis Kalanick, who is known as a "war fanatic" in the United States, said in an interview with Caijing that despite all the difficulties Uber faced in China, Didi could not stop Uber's progress. When he attended a forum in China in June this year, he also made it clear that Uber and Didi would not merge, and stated that the travel service war between the two Chinese and American Internet companies is far from over. Cheng Wei has also said many times in interviews that his war with Uber will continue to the end.

's ongoing money-burning subsidy war requires massive financial support.Since July 2012, when it received an investment of millions of RMB from angel investor Wang Gang, Didi Chuxing has carried out 9 rounds of financing, the most recent round of which occurred on June 16 this year, with a financing amount of 4.5 billion US dollars. Institutions include China Life, Apple, Ant Financial , Tencent, China Merchants Bank and Softbank China . Uber China also conducted a $2 billion Series B financing in January this year. The investors included HNA Capital, China Life Insurance, Pacific Insurance, Guangzhou Automobile Group, CITIC Securities , etc.

"Didi and Uber China both had a round of financing in the first half of this year, and everyone thinks they won't stop the war at all," a person close to Didi told Caijing.

The above-mentioned person said, but as the money-burning war intensifies, the patience of investors is also limited, and at the same time, the loss in the Chinese market has hindered Uber's global listing plan to some extent. Uber's investors want management to end a costly battle with Didi in China after Bloomberg News reported that investors were interested in blocking another $1 billion plan to invest in the Chinese market.

Caijing has learned that Didi Chuxing currently burns up to $200 million a month. Travis Kalanick also told Caijing that Uber China burned more than one billion dollars a year in 2015.

According to Zhou Hang, CEO of Yidao, last year the entire private car market burned 20 billion yuan. The cash reserves that Didi and Uber have just raised are only enough for less than a year.

"There is the will of the two companies behind this merger, but in fact the most important thing is the will and promotion of investors." A person close to the transaction told Caijing.

Didi and Uber have four common investors, BlackRock, Hillhouse Capital, Tiger Fund, and China Life. The above-mentioned sources revealed that the merger of Tiger Fund and Hillhouse Capital played a crucial role.The

merger will help stop the bleeding of both parties' massive investment. For Uber, Uber Global has determined that it will go public as soon as possible. Stopping losses in time, keeping the global market and going public as soon as possible are more important things than winning the war in the Chinese market.

Didi and Uber have four common investors, BlackRock, Hillhouse Capital , Tiger Fund, and China Life. A source revealed that the merger of Tiger Fund and Hillhouse Capital played a crucial role.

"Finance" reporter Gao Honghao/Text

On August 1, Didi Chuxing issued a statement saying that it would acquire Uber China 's brand, business, data and other assets. "Didi has also become the only company jointly invested by Tencent, , Alibaba, and Baidu." Didi said.

Didi Chuxing founder and CEO Cheng Wei described Uber in an internal letter later released as a great rival, an epic showdown.

It is understood that at present, Uber’s global valuation is 68 billion US dollars, Didi Chuxing is 28 billion US dollars, and Uber China’s valuation is 8 billion US dollars. According to Bloomberg , the combined company will be valued at $35 billion.

Didi and Uber China have been fighting in the Chinese market for three years. In January 2016, Uber CEO Travis Kalanick, who is known as a "war fanatic" in the United States, said in an interview with Caijing that despite all the difficulties Uber faced in China, Didi could not stop Uber's progress. When he attended a forum in China in June this year, he also made it clear that Uber and Didi would not merge, and stated that the travel service war between the two Chinese and American Internet companies is far from over. Cheng Wei has also said many times in interviews that his war with Uber will continue to the end.

's ongoing money-burning subsidy war requires massive financial support. Since July 2012, when it received an investment of millions of RMB from angel investor Wang Gang, Didi Chuxing has conducted 9 rounds of financing.Investment institutions include China Life, Apple, Ant Financial , Tencent, China Merchants Bank and Softbank China . Uber China also conducted a $2 billion Series B financing in January this year. The investors included HNA Capital, China Life Insurance, Pacific Insurance, Guangzhou Automobile Group, CITIC Securities , etc.

"Didi and Uber China both had a round of financing in the first half of this year, and everyone thinks they won't stop the war at all," a person close to Didi told Caijing.

The above-mentioned person said, but as the money-burning war intensifies, the patience of investors is also limited, and at the same time, the loss in the Chinese market has hindered Uber's global listing plan to some extent. Uber's investors want management to end a costly battle with Didi in China after Bloomberg News reported that investors were interested in blocking another $1 billion plan to invest in the Chinese market.

Caijing has learned that Didi Chuxing currently burns up to $200 million a month. Travis Kalanick also told Caijing that Uber China burned more than one billion dollars a year in 2015.

According to Zhou Hang, CEO of Yidao, last year the entire private car market burned 20 billion yuan. The cash reserves that Didi and Uber have just raised are only enough for less than a year.

"There is the will of the two companies behind this merger, but in fact the most important thing is the will and promotion of investors." A person close to the transaction told Caijing.

Didi and Uber have four common investors, BlackRock, Hillhouse Capital, Tiger Fund, and China Life. The above-mentioned sources revealed that the merger of Tiger Fund and Hillhouse Capital played a crucial role. The

merger will help stop the bleeding of both parties' massive investment. As for Uber, Uber Global has determined that it will go public as soon as possible, stop losses in time, keep the global market and go public as soon as possible.It is more important than winning the war in the Chinese market.

China Uber financing information:

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