The subsidiary closed a $1bn round earlier this month backed by Baidu, but is now seeking another $1.5bn.
Uber China, the local subsidiary of US-based ride hailing app developer Uber backed by internet company Baidu, is seeking to extend its latest round to $2.5bn, the Financial Times reported yesterday.
Uber China closed a $1bn round earlier this month, which also included insurance providers Ping An and China Life Insurance, hedge fund Hillhouse Capital and financial services firm China Citic Bank. However, according to Reuters, Ping An’s and Hillhouse’s involvement was denied by several sources.
Uber will retain a…
