Uber's China Division Is Now Valued At More Than $7 Billion
The new cash infusion could help Uber's standing in China, where it still trails behind local ride-hailing service Didi Kuaidi.
Following another round of funding, Uber's China division is worth more than $7 billion, the Wall Street Journal reports. Local businesses like private airline owner HNA Group, automaker Guangzhou Automobile Co. Group, and major insurance company China Life Insurance are now among UberChina's investors.
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