Uber's rival in China has raised another $7 billion to keep the pressure on
Advertisement
Reuters/Jason LeeChina's native ridehailing service raised $7 billion in its latest investment round, the Wall Street Journal reports.
Advertisement
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.
Complimentary Tech Event
Transform talent with learning that works
Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More
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.
Advertisement
Advertisement
- Global stocks rally even as Sensex, Nifty fall sharply on Friday
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study