<p><span><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/57615e1252bcd0320c8c92b8-1051/rtx2e3te.jpg" alt="Didi taxi driver" data-mce-source="Reuters/Jason Lee" /><p class="source"><span>Reuters/Jason Lee</span></p></div><p></p></div></div>China's native ridehailing service raised $7 billion in its latest investment round, the Wall Street Journal <a href="http://www.wsj.com/articles/chinas-uber-rival-didi-drives-off-with-7-billion-in-equity-debt-funding-1465985225?mod=LS1">reports</a>. </span></p><p><span>T</span><span>he latest round includes the $1 billion investment Apple made in Didi Chuxing last month, part of a total $4.5 billion in equity investments. It also raised $2.5 billion in debt. That brings the company's total cash on hand to more than $10 billion. </span></p><p><span>That's a lot of cash to keep the pressure on Uber.</span></p><p><span>This comes just one day after Uber <a href="http://www.businessinsider.com/uber-to-raise-up-to-2-billion-in-leveraged-loan-2016-6">raised $2 billion</a> in leveraged loans and brought its own cash on hand up to about $15 billion.</span></p><p> </p><p> </p><p> </p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/switzerland-gotthard-base-longest-train-tunnel-deepest-tech-world-2016-5">Switzerland spent $12 billion to build the world's longest and deepest train tunnel </a></h3>        <div>            <div>    <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script>    <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="ZmbzhzMzE6R2FSJ7NMR7ButL9XnY_-VL" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>    <script>    if (typeof RunFunctions === 'undefined') { var RunFunctions = []; }     RunFunctions.push(function()    {         var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'ZmbzhzMzE6R2FSJ7NMR7ButL9XnY_-VL',{ autoplay: 'false' });     });    </script>    <noscript><div>Please enable Javascript to watch this video</div></noscript></div>        </div>        <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script>    </div>

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BusinessInsider

Uber's rival in China has raised another $7 billion to keep the pressure on

Reuters/Jason LeeChina's native ridehailing service raised $7 billion in its latest investment round, the Wall Street Journal reports. The latest round includes the $1 billion investment Apple made in Didi Chuxing last month, part of a total $4.5 billion in equity investments. It also raised $2.5 billion in debt. That brings the company's total cash on hand to more than $10 billion. That's a lot of cash to keep the pressure on Uber.This comes just one day after Uber raised $2 billion in leveraged loans and brought its own cash on hand up to about $15 billion. NOW WATCH: Switzerland spent $12 billion to build the world's longest and deepest train tunnel if (typeof RunFunctions === 'undefined') { var RunFunctions = []; } RunFunctions.push(function() { var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'ZmbzhzMzE6R2FSJ7NMR7ButL9XnY_-VL',{ autoplay: 'false' }); }); Please enable Javascript to watch this video (function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }());

Reuters/Jason LeeChina's native ridehailing service raised $7 billion in its latest investment round, the Wall Street Journal reports. The latest round includes the $1 billion investment Apple made in Didi Chuxing last month, part of a total $4.

Uber's rival in China has raised another $7 billion to keep the pressure on

Cadence Bambenek

NOW WATCH: Switzerland spent $12 billion to build the world's longest and deepest train tunnel

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