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Taxi aggregator service war intensifies in China - SRK - 06-19-2016

[Image: EVtZPyh.jpg]
China’s rival to ride-hailing pioneer Uber has raised more than $7bn from investors and lenders, capping off a month that has seen an unprecedented wave of funds pouring into car-booking apps.

The fundraising by Didi Chuxing is comprised of $4.5bn raised from investors, including $1bn from Apple, and $2.8bn in debt, according to a person close to the deal, and values the company at more than $25bn. The company will have more than $10bn in its war chest with the new funding.