Coatue Management led the US consortium will buy drops of fast merged stock

The Wall Street Journal today quoted people familiar with the matter as saying that the investment consortium, led by US hedge fund Coatue Management, would value $8.75 billion for the company by buying a 600 million-dollar drop of taxis and a quick taxi merger.

Coatue Management will buy a combined common stock of $250 million trillion, while Farallon Capital Management will buy about $75 million trillion of shares and the remainder will be shared among other institutional investors and insiders, the person said.

The investment, valued at $8.75 billion for the combined drop-by-taxi and quick taxi, was nearly 50% per cent higher than the previous estimate of $6 billion trillion, which is still well below Uber's $41 billion trillion valuation. But in the process of entering the Asian market, Uber has faced a strong challenge, as many of its Asian rivals have already dominated the region.

People familiar with the matter said the 600 million-dollar stock was just part of a fast-selling common stock sold by a taxi management. Quick Cab. The management is also part of their retreat plan to sell the shares. In the next 6 months, the fast-moving senior executives are likely to cede senior management positions, although CEO Lu Zhunwei will remain on the board and hold other positions, these people said. In this way, the merged new company will be led by drops of taxi CEO Cheng Wei and President Liu.

This February, with Alibaba-funded quick taxi and Tencent-funded drop-by-Taxi announced a formal merger, the two sides will have a Chinese taxi application market share of 99%. According to the cooperation agreement, the new company will implement the joint CEO system, drops the taxi CEO Cheng Wei and the Quick Taxi CEO Lu Zhunwei simultaneously serves as the joint CEO. Two companies remain on a staff structure, business continues to evolve in parallel, and will retain their brand and business independence. (Li Ming)