DRIVEN TO SUCCEED: The popularity of private-car booking enterprises such as Uber and China
BEIJING: China’s top taxi hailing app backed by tech giants Alibaba and Tencent will raise at least US$1.5bil (RM5.64bil), Bloomberg News reported, 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 US$12bil (RM45.13bil) to US$15bil (RM56.41bil) and the money will come from new and old investors, Bloomberg said, without elaborating.
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