Didi Kuaidi beats Facebook as it raises $2b in record fundraising drive

Didi Kuaidi, China's largest mobile-based car-booking company, said on Wednesday that it had raised $2 billion from its latest round of fundraising, with even more powerful investors on board.

With a claimed cash reserve of about $3.5 billion and the goal of building itself into a one-stop transportation service provider, Didi Kuaidi is expected to trigger more competition in China's already highly competitive online car-booking market.

Beijing-based Didi Kuaidi said at a news conference that it had encountered tremendous interest from global investors, including Capital International Private Equity Fund, Ping An Ventures and Temasek, and it is looking to raise a further few hundred million dollars from new investors before the final closing in the coming month.