Didi gets over $4b in fresh funding

Investment to boost overseas expansion, other business moves

Chinese ride-hailing giant Didi Chuxing announced on Thursday that it has raised more than $4 billion in fresh funding, boosting its ammunition to expand overseas and dealing a blow to its biggest rival, Uber Technologies Inc.

The total funding of Didi, including its last round of funding in April with more than $5.5 billion, will exceed $9.5 billion this year alone, and around $20 billion in total, according to a preliminary estimate.