Photographer: Andrew Harrer/Bloomberg
Venture Capital

Uber China Rival Didi Kuaidi Raising $1 Billion at Valuation of More Than $20 Billion

The ride-hailing giant aims to stay ahead of Uber, which plans to spend more than $1 billion in China this year.

Didi Kuaidi, the biggest ride-hailing company in China, has received at least $1 billion in commitments for a new fundraising round, according to a person familiar with the matter.

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