NEW YORK (TheStreet) -- Uber China has been acquired by Chinese competitor Didi, which has helped Uber cut many expenses and boost its available resources which has investors wondering if an IPO is in the company's future, Fox Business Network's Liz Claman reported on "Countdown to the Closing Bell with Liz Claman" Wednesday.
The agreement between Uber and Didi gives Uber a 20% stake in Didi, while Didi owns all of Uber China's assets and will invest $1 billion in Uber.
Uber's estimated value is about $68 billion and investors are curious if the deal would clear up and strengthen Uber's balance sheet, Fox Business Network's Adam Shapiro reported.
Uber wants to wait as long as possible before going public and the company is able to generate large amounts of money privately, Shapiro said, citing Uber CEO Travis Kalanick.
The company is flourishing in Saudia Arabia, where the government just invested $3.5 billion into the company that is expanding in the Middle East, he explained.
The company operates in 500 cities around the world and has raised $12.9 billion since it began in 2009.
"Of course we would like to see an IPO, but what I would personally want is Travis and the other key people running this company to continue to do what is right for Uber and to go public when they feel the time is right," investor Adam Leber told Shapiro.