Mobile transport in China is very lucrative market. There are a wide range of apps and services available at our fingertips and the competition is fiercer than ever. Didi Kuaidi and Uber are the biggest ones trying to serve the increasing personal transport needs of Chinese users and the heat of their rivalry is constantly increasing.
Recently, San Francisco-based Uber announced that the Chinese market is the top priority of their global team and they are planning to invest an additional $1 billion into their China operations. Meanwhile, Didi Kuaidi, Chinaβs biggest taxi hailing company have raised $2 billion from their investors and their cash reserves have reached $3.5 billion. Their recent fundraising transaction is the biggest capital injection ever received by a non-public company in the internet industry. They even managed to exceed Airbnb Incβs and Facebookβs fundraising records, which were both $1.5 billion.
