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Uber China closes US$1b fundraising, say sources
Published Fri, Aug 28, 2015 · 09:50 PM
Shanghai
UBER Technologies' China arm has closed its US$1 billion fundraising round early, according to two people with knowledge of the matter, with investors still hopeful for the US-based ride service despite strong domestic competition.
Investors in Uber's Chinese unit include Internet giant Baidu, China CITIC Bank Corp and China Life Insurance, among others, said one of the people.
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