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Chinese taxi-app Didi Kuaidi raises $1.5bn, valuation $15 billion

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Staff writer |
Didi Kuaidi
Funding   Didi goes strong against Uber

Didi Kuaidi, operator of China's dominant taxi-hailing app, said it raised $1.5 billion in its latest round of funding, valuing the company at $12 billion-$15 billion.

Didi Kuaidi said in May that it planned to spend 1 billion yuan ($162 million) as part of an expansion plan to help lure in riders and fend off Uber.

Didi Kuaidi, backed by Tencent Holdings and Alibaba Group, operates in 360 cities in China and has 1.35 million drivers. Its premium car service is in 61 cities with 400,000 drivers.

The company was formed by the merger of Didi Dache and Kuaidi Dache in February.


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