Didi Chuxing Investing More In Grab by PitchBook
According to a Bloomberg report, Didi Chuxing and SoftBank are investing in a new round for Grab that could total more than $600 million. Didi is reportedly in talks to contribute up to $100 million in convertible debt as part of the deal.
If true, this news provides some clarity to questions that arose earlier this week when Uber’s China business and Didi merged. Namely, many wondered what the merger would mean for Didi’s existing relationships with Uber competitors Lyft, Ola and Grab, all of which count Didi among their investors (Didi also invested $1 billion in Uber as a part of the aforementioned merger). It appears that Didi is free to continue developing these existing relationships, even if it seems like it would hinder Uber’s global expansion.
Confused as to who is working with whom? We created a handy flowchart to help visualize the many intertwining relationships in the global ridesharing industry.