Uber is poised to grab another $1 billion from Didi as part of its takeover of Uber China, bringing its lifetime fundraising haul above $12 billion. “Chinese investors, [venture capitalists] and funds would have certainly been keen to invest into Uber Technologies but not solely Uber China,” said Matthieu David of China-based research firm Daxue Consulting. “Uber China hit its max,” said Max Wolff, chief economist at Manhattan Venture Partners, which swaps cash for stock with shareholders in closely held firms. Uber plopped down several hundred million dollars of its own money on China during a financing last year to boost investor confidence. Efforts to raise funds for Uber China reportedly dragged on longer than planned last year, failed to produce the share prices Uber sought and generated confusion as some investors also backed Didi.

Source: Los Angeles Times August 03, 2016 00:01 UTC