Ron Burgundy Posted August 27, 2015 Share Posted August 27, 2015 BEIJING/SHANGHAI (Reuters) - Uber Technologies Inc’s China arm has closed its $1 billion fundraising round early, according to two people with knowledge of the matter, with investors still hopeful for the U.S.-based ride service despite strong domestic competition in the car-hailing market. Investors in Uber’s Chinese unit include Hillhouse Capital, Asia’s biggest hedge fund, Chinese Internet giant Baidu Inc, China CITIC Bank Corp Ltd, China Life Insurance Co Ltd, Ping An Insurance Group Co of China among others, said one of the people. A spokeswoman for Uber declined to comment. ... View the full article Quote Link to comment Share on other sites More sharing options...
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