Editor’s note: This post originally appeared on TechNode, an editorial partner of TechCrunch based in China.
Didi Chuxing’s deal to acquire Uber China seemingly left the Chinese ride-hailing giant as the last man standing and therefore sole winner of China’s vast ride-sharing market. However, Didi’s success has also served to open new opportunities for other competitors. It would seem that there’s no way for a single company to gobble up the entire market as a whole, even if it’s Didi.
UCAR, a prominent rival of Didi in China, announced this week that it raised an initial RMB 4.6 billion ($670 million) in new funds from
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source http://www.omnipopmag.com/2017/03/02/chinas-taxi-on-demand-war-reignited-didi-rival-ucar-is-raising-1-billion/
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