- Reuters/Jason Lee
China’s native ridehailing service raised $7 billion in its latest investment round, the Wall Street Journal reports.
The latest round includes the $1 billion investment Apple made in Didi Chuxing last month, part of a total $4.5 billion in equity investments. It also raised $2.5 billion in debt. That brings the company’s total cash on hand to more than $10 billion.
That’s a lot of cash to keep the pressure on Uber.
This comes just one day after Uber raised $2 billion in leveraged loans and brought its own cash on hand up to about $15 billion.