Didi Chuxing: China and Brazil Singapore

didi chuxing: Uber's rivals are piling on a company in crisis, according to The Japan Times. While a series of scandals at Uber culminated in the ouster of Chief Executive Officer Travis Kalanick in June, its competitors in China, India, Brazil and Singapore have raised a total of about 9 billion to accelerate their expansions. Grab, the leading provider of ride-hailing services in Southeast Asia, said Monday it raised 2 billion from Soft Bank Group Corp. and China's Didi Chuxing and expects to receive another 500 million from new and existing backers. ; The money will help Grab, which already dominates the region, defend its turf against Uber in one of the San Francisco company's most important global markets after retreats from China and Russia. The money, primarily from Masayoshi Son's Soft Bank, jeopardizes Uber's push for global dominance and its 69 billion valuation. If Uber loses Southeast Asia, it will significantly curtail its value proposition as a global operation. This funding round is a great threat to Uber, said Zhou Xin, an internet consultant at Beijing-based Trustdata. (news.financializer.com). As reported in the news.