Ride sharing giant Uber has raised $1.2 billion in new funding to invest in its business in China. The round was led by Chinese search giant Baidu, and Uber’s China subsidiary was valued at $8 billion, according to Chinese news site Sina. Uber was valued at $50 billion in its last round of funding. China is one of Uber’s fastest growing markets and the company is aggressively investing more money in expanding its reach there.…
Uber closes on $1.2 billion in funding for China
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