Didi Chuxing in China is secretly submitting files for a US IPO, with valuations ranging from $ 70 billion to $ 100 billion.

Uber’s Chinese counterpart, Didi Chuxing, secretly submitted an IPO to the US Securities and Exchange Commission while the Chinese government was cracking down on tech companies. The company chose Goldman Sachs and Morgan Stanley to lead an initial public offering (IPO), according to two people with knowledge of the matter.