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

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 Reuters.

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 two companies separately backed by Alibaba Group Holding Ltd (NYSE: BABA) and Tencent Holdings Ltd (OTC: TCTZF).

Didi Chuxing dominated the headlines last week as the company received a $1 billion investment from Apple Inc. (NASDAQ: AAPL), which values the company at around $25 billion.

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Related Link: Didi Chuxing Investor Breaks Down Apple's $1 Billion Investment

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 list 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.

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