Didi, Uber's main Chinese competitor, reportedly wants to make an IPO to challenge the American ride-sharing giant in China. (Photo : Twitter)
Uber's chief rival in China Didi Chuxing wants to take the competition to the next level as it seeks to gain an even larger portion of the ride-sharing market.
Didi is reportedly eyeing to make its first public offering in the United States. According to various sources, the company intends to conduct the IPO in New York next year. However, when asked to comment, Didi did not confirm the rumors, CNBC reported.
"We currently do not have IPO plans, so there is no point talking about location or schedule," a Didi spokesman said.
The company, formerly known as Didi Kuaidi, was able to raise close to $2 billion in its latest funding efforts. The company was also able to get the backing of Chinese tech companies like the Alibaba Group and Tencent Holdings, as well as United States tech powerhouse Apple, the Business Insider reported.
Apple is said to have put in at least $1 billion into the Chinese company. According to Apple CEO Tim Cook, the investment into Didi is part of their efforts to increase presence in the country.
The ride-sharing company currently has 14 million registered drivers providing over 11 million rides a day, or around 80 percent of the total market.
In comparison, Uber was able to register only 1 million daily rides in 2015.
Unlike the latter, which focuses solely on private-car rides, Didi actually lets users choose other options, such as shared cars, taxis or buses.
The San Francisco-based company is reportedly spending $1 billion for its operations in China.
