China's Didi Chuxing raises $5.5B in world's largest funding

Uber rival Didi Chuxing has raised $5.5 billion in the world's largest single round of funding to date, valuing the startup at over $50 billion. Existing investors SoftBank Group and China Merchants Bank, and new investor Silver Lake Kraftwerk participated in the funding round. With this, Didi became Asia's most valued startup and the world's second-most valued startup after Uber.