Uber's Rival And Apple's Latest Investment May File For A 2018 IPO

China-based Didi Chuxing is eyeing an IPO for 2018, according to

Didi Chuxing is Uber Technologies' main competitor in China and offers a similar service. The company, formally known as Didi Kuaidi was formed lasted year following the merger of 2 companies that were separately backed by

and Tencentcent Holdings. Didi Chuxing dominated the headlines last week as the company received a $1 billion investment from

which values the company at around $25 billion. Related Link:

Reuters, citing "a person with knowledge of the plan" stated in its report that Didi Chuxing is currently looking to raise $3 billion from investors in a new round of financing. The publication added that the company is looking at a 2018 public offering in the United States. Didi Chuxing hasn't ruled out an IPO listing in China but there is a long lost of companies waiting for an IPO approval - making it hard to predict when it would be able to list its stock in its home country. However, Reuters added that a Didi Chuxing spokesperson denied the report and said that the company has no current plans to file for an initial public offering.