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Uber rival Didi Chuxing raises $7 billion in funding

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. 

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