China’s Didi Chuxing is already regularly occurring for making investments, however this time around the experience-sharing business has stepped past backing organizations in its core trade with its latest deal.
That’s because Didi has backed RenRenChe, China-based online peer-to-peer motor vehicle marketplace, by means of a strategic funding it truly is verified at $ 200 million. It’s not clear what it’s valuation is put up-money, however in its last circular, a 12 months ago, the company become valued at $ 500 million, so doing some straight math and assuming RenRenChe has now not raised at a down-circular, it’s now at at least $ 700 million.
Didi is valued at over $ 50 billion and its on-demand vehicle empire stretches beyond China, the place it continues to be within the system of buying Uber’s native enterprise.
The enterprise has links in Europe, South the us, India, Southeast Asia, the U.S. and the middle East thanks to investments in the likes of Taxify, ninety nine, Ola, grab, Lyft and Careem. With the RenRenChe deal, Uber is adding peer-to-peer buying and selling to its stack of services in China, which spans basic taxi functions, buses, verify driving, dock-much less bikes and extra.
Three-yr-historical RenRenChe is a categorized website that makes it possible for vehicle homeowners to sell directly to other buyers. It covers over 80 chinese language cities, and it claims a hundred,000 automobile listings.
As a part of the deal, Didi said it is going to seem to be to combine RenRenChe’s carrier into its apps, while it is going to contribute to helping with R&D and technical development. A spokesperson verified that there is no plan to take the mixing distant places with Didi’s world companions, although.
RenRenChe’s different buyers include Redpoint, Tencent and Shunwei Capital, among others. The company, in accordance with Crunchbase, has raised about $ 460 million thus far (together with this newest round).
Fundings & Exits – TechCrunch