Uber Chinese rival Didi raises $7b in new funding at $28b valuation

Uber Chinese rival Didi raises $7b in new funding at $28b valuation

A taxi driver is reflected in a side mirror as he uses the Didi Chuxing car-hailing application in Beijing, China, September 22, 2015. REUTERS/Jason Lee

Didi Chuxing has raised $4.5 billion in a round of funding that values it at close to $28 billion, according to people familiar with the situation, giving China’s leading ride-sharing company more firepower to battle Uber Technologies Inc.

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