The fresh capital infusion is expected to come from investors including SoftBank Group, Silver Lake and China Merchant Bank. Uber China, a regional subsidiary of the ride-hailing service, merged with Didi in a deal worth $35 billion last August.
Didi users will have direct access to ofo's bright yellow bikes in the app through fully connected services in registration, user authentication, deposit, ride payment, and customer support, according to a Didi press release Thursday. Ant Financial, the payments affiliate of Alibaba is valued at $60 billion.
The valuation represents a jump from Didi's $34 billion price tag in August, when it agreed to acquire Uber Technology Inc's China business, and also puts it closer to the USA firm's $68 billion.
People familiar with the matter said the new round is likely to give the vehicle hailing site a valuation of over US$50 billion, making it the world's most valuable start-up, after Uber. The deal gave Uber a one-fifth stake in the firm.
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Mr Son made a similar bet two decades ago on China e-commerce giant Alibaba Group, an investment that proved to be his most lucrative ever with a paper profit of $US85 billion.
Didi, however, did not name the investors.
Cities including Beijing and Shanghai have imposed stricter rules that require drivers to be local residents, cutting out thousands from the countryside who had been willing to take chauffeur jobs to make a better living. Didi has won operating licenses in close to a dozen cities including Tianjin and Chengdu, affirming its right to legally operate in China. Like other technology companies including Uber and Alphabet Inc.'s Google, it is looking to expand into autonomous cars as technology disrupts traditional transportation solutions, opening a research and development lab in Silicon Valley this March.
Didi, founded in 2012, claims almost 90 percent of China's ride-hailing market after buying rival Uber's assets in the country a year ago. It also employed Charlie Miler, former Uber engineer as the transport safety and security expert at the division.