Uber's China subsidiary raised the undisclosed amount from HNA, Guangzhou Automobile and China Life Insurance at a $7bn pre-money valuation.
Uber China, which acts as ride hailing company Uber’s Chinese subsidiary, has raised an undisclosed amount of funding from corporate investors, the Wall Street Journal reported yesterday.
The China-based investors were airliner HNA Group, automotive manufacturer Guangzhou Automobile and insurance firm China Life Insurance, Uber CEO Travis Kalanick disclosed in a speech in Beijing.
Although the amount secured by Uber China was not revealed, reports in September 2015 suggested it had targeted $1.5bn for its next equity round. It…
