Kuaidi Dache raises $600m

By Mu Chen | China Daily | Updated: 2015-01-16 07:37

Alibaba and Japan's SoftBank participate in new round of financing

Popular taxi-hailing app Kuaidi Dache, backed by Alibaba Group Holding Ltd, said on Thursday that it had raised $600 million to strengthen its position in the hotly contested market.

The latest round of financing was led by Japanese telecommunications giant SoftBank Group, with the participation of Alibaba and Tiger Global Management LLC.

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