Uber China Rival Didi Kuaidi Raising $1 Billion at Valuation of More Than $20 Billion

Didi Kuaidi, the biggest ride-hailing company in China, has received at least $1 billion in commitments for a new fundraising round, according to a person familiar with the matter.n the first three quarters of 2015, Uber lost $1.7 billion, much of that going toward expansion in Asia, Bloomberg Businessweek reported in January. Uber Chief Executive Officer Travis Kalanick said last week that the company is profitable in the U.S., according to Canadian technology blog BetaKit. It’s unclear how the metric was calculated. Didi Kuaidi raised $3 billion last year at a $16.5 billion valuation. The Wall Street Journal earlier reported the Chinese company’s latest fundraising round.