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Uber's China Rival Close to Raising $2 Billion in New Funding

  • Funding said to exceed previous $1.5 billion target on demand
  • Didi said to be valued at about $25 billion by investors
Bloomberg business news

Is Didi Kuaidi Really Worth $25 Billion?

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Didi Kuaidi is close to raising about $2 billion in its latest round of funding, as China’s largest ride-hailing service battles Uber Technologies Inc. for dominance in the world’s biggest market, according to people familiar with the matter.

Uber’s largest competitor plans to close the round in the next few weeks with a valuation of about $25 billion, said the people, who asked not to be named because the matter is private. That would make it the fourth-most valuable startup in the world after Uber, Xiaomi Corp. and Airbnb Inc., according to the research firm CB Insights.