Uber China unit valued at over $8B

Uber CEO Travis Kalanick said Friday the ride-hailing company's China operation was valued at over $8 billion after its latest fundraising round.

In the latest fundraising round, Uber's China unit grew by $1 billion in valuation.

Still, it may not be the top dog in the country.

Didi Kuaidi, backed by Chinese Internet heavyweights Alibaba Group Holding Ltd and Tencent Holdings Ltd, is said to have the country's biggest market share of car-hailing apps.

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