Uber Technologies Inc.’s Chinese rival invested in U.S. ride-sharing service Lyft Inc. around the second quarter, according to people familiar with an investment that takes the battle with Uber abroad.
Didi Kuaidi joined Alibaba Group Holding Ltd. and Tencent Holdings Ltd. in the funding round between March and June, the people said, asking not to be named because the deal was private. Their joint investment was intended to fuel Didi Kuaidi’s expansion abroad and bankroll Uber’s U.S. competitor, the people said.
