It’s not just Uber that is hungry for cash.
In its latest fundraising round, Didi Chuxing has raked in $4.5 billion—including a $1 billion investment from Apple and $600 million from China’s leading life insurance company (which previously invested in Uber). On top of this, Didi Chuxing has also secured a $2.5 billion debt package, according to the WSJ.
The company will reportedly now have $10 billion in cash to stave off Uber’s efforts in China. PM