apple didi chuxing ipo
6 months ago
Published April 10, 2021 by

Apple’s Chinese ride-hailing app set to go public

From Bloomberg’s “Didi Chuxing Has Filed Confidentially for U.S. IPO” posted Friday:

Chinese ride-hailing company Didi Chuxing has filed confidentially with the U.S. Securities and Exchange Commission for an initial public offering, according to people with knowledge of the matter.

The company, which has tapped Goldman Sachs Group Inc.and Morgan Stanley as underwriters, is aiming to raise several billion dollars in the listing, the people said, asking not to be identified because the information is private.

It could be valued at as much as $70 billion to $100 billion, said the people.

My take: Apple invested $1 billion in Didi Chuxing back in 2016, notes friend-of-the-blog Michael Goldfeder. “Something to factor into the stock price moving forward,” he says.

9 Comments

  1. Romeo A Esparrago Jr said:
    Does Apple report made/lost money made from its investments if the value of the return is large enough? Anyone find anything since 2016? Or just thrown into a category?

    14
    April 10, 2021
  2. Jonny T said:
    Not often you see Apple doing this.

    6
    April 10, 2021
  3. Gregg Thurman said:
    Apple’s invests are near exclusively in very conservative cash equivalents. Didi is the only firm I’m aware of that Apple has directly invested in.

    Just a wild guess but a Didi valuation of $100 B would make Apple’s position worth $5 B.

    6
    April 10, 2021
  4. Kirk DeBernardi said:
    The “prerequisite” upcoming string of rumor connections to some future Apple Car might add a little value also.

    7
    April 10, 2021
  5. Charles A. said:
    PED, I believe you must have meant “Apple’s Chinese ride-hailing service…”.

    6
    April 10, 2021
  6. Dan Scropos said:
    Here’s your next Apple Service. This partnership will also give them exclusive data for their own automobile launch, which I have to believe will be so sooner than 2028.

    7
    April 10, 2021
    • Gregg Thurman said:
      Can you imagine the AI/ML software Apple could develop for autonomous vehicles with Didi’s database, using China’s extensive 5G network?

      8
      April 10, 2021
      • Dan Scropos said:
        Bingo, Gregg. That’s why I laugh when analysts ask how Apple can move eps in a meaningful way.

        6
        April 10, 2021
  7. Steven Philips said:
    This is what I have mentally always tied to an Apple car.

    6
    April 10, 2021

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