Didi – Jam today
It’s time Didi started trying to make money.
With the ride hailing market in China now wide open for it, Didi has no reason to go on burning billions of dollars for the sake of growth. Consequently, we cannot see a good reason for Didi to raise $6bn as it should be looking to internal cash flow to fund its investments. The one exception is to have a war chest for acquisitions in order to go global, but we think that it is better to buy expensive paper with equally expensive paper rather than cash.
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