China ride-hail firm Didi raises $4 billion for global push

China's ride-hailing giant Didi Chuxing has raised over $4 billion in its latest round of funding, the company said on Thursday, posing a challenge to its USA rival Uber in its efforts to branch out overseas.

Uber didn't immediately respond to an email request for comment sent outside regular business hours.

Existing investors in the company include Apple, Tencent and Alibaba. The move would mark Didi's first expansion of its services beyond China.

The company said that Chinese and global institutions joined the latest fundraising round but didn't disclose the names of investors participating in the round. These funds will be used for several initiatives including worldwide expansion and strengthening research in Artificial Intelligence (AI) development.

Didi now accounts for 99 per cent of the car-hailing market in China, with 300 million customers in over 400 cities.

Venus Williams cleared in fatal Florida crash
Police reviewed video surveillance footage of the intersection where Williams' vehicle collided with another auto on June 9. The accident, in which the other driver's Hyundai Accent crashed into Williams' Toyota Sequoia, left Jerome Barson dead.

Meryl Streep 'She Knew' posters surface in LA over Weinstein reaction
She also criticised Streep for working with the producer and affecting "no real change", saying "I despise your hypocrisy". Numerous women in the clip agreed that they feared for their safety which is what prolonged their silence and shame.

Following Trump's report, China urges United States to accept its rise
China's Foreign Ministry on Monday defended trade with the United States as a win-win scenario ahead of a speech by U.S. President Donald Trump laying out a new national security strategy that makes clear that China is a competitor.

Photo A Didi Chuxing pickup point in Shanghai in 2015. However, Didi ended an experimental service in the USA in November and has since encouraged its customers to download the Lyft app instead.

The ride-hailing company has already raised more than $13bn, with stakeholders including ecommerce rivals Alibaba and Tencent and U.S. tech giant Apple. More than 260,000 electric vehicles are running on Didi's network, and the firm had set up a joint venture to build its own charging networks, the firm's chief executive Cheng Wei said last month.

In the mainland China market, its biggest former competitor Uber exited the domestic market a year ago after Didi took over Uber's China operations.

Didi has also invested in several of Uber's rivals globally, including USA -based Lyft, Brazil-based 99, India's Ola, Singapore-headquartered Grab, Estonia's Taxify and Careem in the Middle East.

Related News:

  • North Korea to the US: We aren't responsible for WannaCry

    North Korea to the US: We aren't responsible for WannaCry

    Neither the White House nor North Korea's Ministry of Foreign Affairs immediately responded to CNET's request for comment. In addition, the NIS said there were attempts to breach about 10 more cryptocurrency exchanges last month alone.
    Watch the Winter Solstice happening at Newgrange

    Watch the Winter Solstice happening at Newgrange

    The Northern Hemisphere's summer solstice will take place on June 21! Get ready, Thursday night is going to be a long one. December 21 also marks the first day of astronomical winter - although meteorological winter began December 1.
    Rolling Stone Magazine Has a New Owner

    Rolling Stone Magazine Has a New Owner

    No financial details were disclosed, but under the deal, Mr Wenner will be appointed editorial director. Rolling Stone has been a fixture of music commentary and United States political life for decades.
  • Salvation Army distributes presents to less fortunate

    Salvation Army distributes presents to less fortunate

    The Toyland drive the Salvation army location on potter street gave well deserved Christmas to families here in Lincoln. For more information, contact Kimberly Kyriakidis George, director of marketing for The Salvation Army at 423-505-9154.
    Trump commutes former Agriprocessors manager Sholom Rubashkin's prison sentence

    Trump commutes former Agriprocessors manager Sholom Rubashkin's prison sentence

    In 2011, an appeals court ruled against his petition, and in 2012 The US Supreme Court refused to hear his appeal of that ruling. More than 30 members of Congress also wrote letters on Rubashkin's behalf, according to the White House .
    North Korean soldier defects to South

    North Korean soldier defects to South

    The North's soldiers also responded with firing but apparently no bullets were fired across the common border. South Korea's Unification Ministry, which oversees defectors, said the last time it happened was in 2007.
  • Philippines ferry carrying 251 capsizes

    Philippines ferry carrying 251 capsizes

    Coastguard spokesman Armand Balilo said: "We have heard there were casualties, but we're still validating". Balilo said the ferry, which had the capacity to carry 280 people, had not been overloaded.
    Celtic snap up experienced German defender from RB Leipzig

    Celtic snap up experienced German defender from RB Leipzig

    Celtic have brought in former Germany global centre-back Marvin Compper from RB Leipzig on a two-and-a-half year deal. Compper told Celtic TV: "When I first heard of Celtic's interest I was immediately very keen and eager to come".
    NY lawmaker introduces bill to protect net neutrality in the state

    NY lawmaker introduces bill to protect net neutrality in the state

    A spokesman said the company has no plans to block or throttle content or enter into paid prioritization agreements. The next stop is the courts: Several state attorneys general have sued to preserve net neutrality.
  • PDP faction named Fresh PDP sets up Abuja secretariat

    PDP faction named Fresh PDP sets up Abuja secretariat

    Secondus' election, according to reports, did not go down well with many members of the embattled party. The post Group moves to break PDP, sets up parallel secretariat appeared first on Vanguard News .

    Khloe Kardashian confirms pregnancy with Instagram post

    I am so thankful, excited, nervous, eager, overjoyed and scared all in one! Read the emotional Instagram post , below. We are having a baby! I always wanted this to happen, but it seems that God also had his plan.
    Damian Green sacked after 'misleading' statements over computer porn allegations

    Damian Green sacked after 'misleading' statements over computer porn allegations

    His previous statements regarding the presence of pornography "were inaccurate and misleading", according to the report. But it found he made two "misleading" and "inaccurate" statements about knowledge of the claims.


Most liked

Boeing-Bombardier spat puts US-Canadian trade deals in spotlight
Bombardier calls Boeing's criticism unfounded, saying that the USA company's entire case has been overtaken by events. Bombardier plans to build the planes in Mobile, Alabama, where Airbus assembles narrow-body jets.

Now, install third-party apps for Twitter account verification
This is why companies like Microsoft and Google make apps that make the second factor of authentication easier. Now, through the third-party app, you can view and use codes for login verification.

ECJ's Uber ruling has widespread implications for gig economy
Uber's presence around the world has often been controversial, with protests staged against it in various cities. With this ruling, it remains to be seen whether Uber will be able to maintain its valuation.

Healthy Living: Health officials expecting high flu numbers this winter
While you can't predict how the flu season will go, Thompson said so far this season is looking to be pretty serious. California's Department of Public Health says 2,119 people have tested positive for the flu in that state.

IAF initiates step to buy 83 Tejas aircraft
Of the total 20 International Olympic Committee aircraft (16 fighters and 4 trainers), 5 fighters have been delivered by HAL to IAF till date.

European Court of Justice determines Uber will be regulated as transportation service
The company has for example paused its services in Finland and Norway so that it can re-launch under new transport regulations. In the U.S., Uber and competitors such as Lyft are governed by a patchwork of state and city regulations.

Schools And Offices Closed Around Tehran After A Moderate Earthquake
People phone and wait in the streets in Tehran overnight on December 21, 2017, after an quake was felt in the Iranian capital. Iranian weekend starts on Thursday, and given the fear of earthquakes more people leave the city for northern resort towns.

Nokia 9 Specifications Leaked; OLED Display & A Bigger Battery Than Nokia 8!
HMD has started pushing December Security update to Nokia 5 after Nokia 3, Nokia 6 and Nokia 8 globally. Our readers have tipped us about the update being available for Nokia 5 in many markets including India.

LG announces its first Nano IPS tech PC monitors with HDR600
The difference here is that this model comes with a 5K resolution (5,120 x, 2160) display and with a 21:9 UltraWide aspect ratio. Also, LG is pitching this as ideal for Thunderbolt 3-equipped laptops like the current MacBook Pro .

'Neymar was waiting for me'
Ibrahimovic scored 156 in 180 games in his four seasons with PSG . Mbappe is so fast that he can't be photographed properly. In truth he was waiting for me.

This Is What Dabo Swinney Reportedly Said About Urban Meyer
As the the power house programs go to battle over the next round of recruits, this will continue to be something to watch. The fans of the early signing period coming out today.

Amazon is planning to end support for its online MP3 locker
If you upgrade your Amazon Music storage subscription, you can store up to 250,000 imported songs in supported file types. If you plan on uploading songs on your Amazon storage, you can still do so as long as you are subscribed to the service.

Model will 'inevitably' losing second leg to toxic shock syndrome
In the coming months, she added: "I'm inevitably going to have my other leg amputated". 'There's nothing I can do about it. You must also change your tampons regularly and always wash your hands before and after inserting a tampon.

AT&T employees receiving $1000 bonuses after tax vote
In other words, the working men and women who President Donald Trump has promised will be helped by the tax reform bill. AT&T announced Wednesday that it will give 200,000 of its USA employees $1,000 once the GOP tax bill is signed into law.

Sen. Leahy: 'I Regret' Urging Franken To Resign Before Ethics Committee Probe
I regret not doing that this time. "Others, I remember very differently". Franken has not said exactly when he intends to leave.