A man holds an iPhone as he visits Sina's Weibo microblogging site in Shanghai May 29, 2012. REUTERS/Carlos Barria/Files
HONG KONG: Chinese microblog Weibo Corp will invest US$142mil (RM517.66mil) in China's dominant taxi-hailing firms Didi Taxi and Kuaidi Taxi, a US Securities and Exchange Commission filing showed.
Weibo said in the filing that it had agreed to invest in the two Chinese companies in the latest round of financing through its Cayman Islands holding company Xiaoju Kuaizhi Inc, a move that will help lure in riders and fend off rivals like US firm Uber Technologies Inc.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
