China’s Didi Kuaidi Is Raising $1 Billion More To Battle Uber

Newsflash from the world of the always-raising ride on-demand companies in China — one of them is raising. Again.

Didi Kuaidi, the company that has left Uber eating its dust in China, is currently in the midst of securing $1 billion in additional fundraising, according to the Wall Street Journal and Bloomberg. We’ve corroborated those reports with a source close to the deal, who told TechCrunch — like both publications — that round is not yet closed, is apparently over-subscribed, and will value the company at over $20 billion.

Didi Kuaidi is no stranger to investor cash. Last year, it raised $3 million (at a $16.5 billion valuation) to push on with its battle against Uber. That 2015 round started out at $2 billion before additional interest pushed it up, and we…

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