Paul Hastings Advises SoftBank Corp. on US$600 Million KuaiDi Dache Financing
Shanghai (January 16, 2015) – Paul Hastings LLP, a leading global law firm, announced today that it advised SoftBank Corp. as the lead investor in the US$600 million Series D financing of KuaiDi Dache, a leading mobile taxi booking app in China. SoftBank Corp. (TYO:9984) and its subsidiaries and associates offer a comprehensive range of mobile communications, fixed-line communications and internet services around the world.
Alibaba Group and Tiger Global participated in the financing, which aims to expand and improve KuaiDi Dache’s services in China.
Paul Hastings has advised SoftBank Group and its subsidiaries on a number of transactions over the years including on SoftBank Corp’s US$420 million sale of PPLive Corporation to Suning and Hony Capital, and its US$120 million investment round for Wandoujia, one of China’s largest mobile app distribution platforms.