Uber's China Rival Said to Raise $3 Billion in Latest Financing
- Didi Kuaidi Said to Be Valued by Investors at $16.5 Billion
- Company Had Expanded Fundraising After Reaching Target
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Didi Kuaidi, the Chinese car-booking business competing with Uber Technologies Inc., is close to raising about $3 billion from investors, more than it had originally planned, according to people familiar with the matter.
The latest round of financing values the company at $16.5 billion, according to one of the people, who asked not to be named because the details are private. That compares with the $15 billion valuation that people familiar have said the company fetched in July. Didi Kuaidi declined to comment on the status of the financing Monday.