BEIJING, June 15, 2015 (AFP) - China’s top taxi hailing app backed by tech giants Alibaba and Tencent will raise at least $1.5 billion, Bloomberg News reported on Monday, as the company gears up to take on Uber in the country’s expanding transportation market.
The amount values Xiaoju Kuaizhi, which runs the combined Didi and Kuadi apps, at $12 billion to $15 billion and the money will come from new and old investors, Bloomberg said, without elaborating.
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