Uber-Didi global duel gets hotter with big fundraising
Both ride-hailing leaders have had huge new capital injections recently
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San Francisco
THE rivalry between ride-hailing leaders Uber and Didi has just intensified.
Uber Technologies Inc raised US$3.5 billion from Saudi Arabia's sovereign wealth fund - the single biggest investment in the San Francisco company to date. The investment brings the total of Uber's latest financing round to US$5 billion. Didi Chuxing, meanwhile, said it's working to close a funding round of more than US$3.5 billion, which includes a US$1 billion investment from Apple Inc last month.
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