Rumor: Didi Dache Wins USD 100 Mln Funding from Tencent, CITIC
Sohu IT, 12/25/13
According to an industry insider, Beijing-based Xiaoju Technology, operator of taxi booking app Didi Dache, has received USD 100 mln in funding from CITIC Private Equity Funds Management and internet and mobile services firm Tencent (0700.HK). Didi Dache's public relations department has not confirmed the news.
Didi Dache has secured three rounds of funding so far, including USD 3 mln first-round funding from GSR Ventures; USD 15 mln second-round funding from Tencent; and the current round of USD 100 mln from CITIC and Tencent.
Didi Dache currently covers 32 cities, with eight major cities, including Beijing, Shanghai, and Guangzhou, accounting for 70% of bookings.
Editor's Note: For more background on this topic, please see "Didi Dache to Integrate with WeChat Pay, Denies Tencent Investment Rumor" MD 12/12/13 issue.
Keywords: third-round funding wireless Tencent CITIC 0700.HK Didi Dache Xiaoju taxi booking app mobile application
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