On: Didi Kuaidi, Uber’s Rival in China, Has Raised $2B in Fresh Funding

[kryptiskt]

I can think of very few business ideas that need $2 billion+ worth of runway before they are self-financing. It certainly seems it should be possible to build a ride brokering service with a fraction of that.

But I assume they got it because they could and not because they needed it.

[mcintyre1994 → kryptiskt]

According to the article they wanted $1.5b, but decided to leave it open for another few hundred million because they could. As you do :)

[adamcanady → kryptiskt]

It's also about a lot more than ride sharing. These companies are hoping to turn their LaaS (labor) into self-driving car fleets as soon as possible. A lot of that money is going to be poured into research.

[sachingulaya → kryptiskt]

Uber has received >5BN in funding. It's a big play.