Chinese ride-hailing giant Didi Chuxing raises $500 million

Chinese ride-hailing giant Didi Chuxing has raised $500 million in a strategic investment from US-based travel firm Booking Holdings. As part of the agreement announced in a joint statement, Booking Holdings will allow users to hail Didi cars in its apps. Didi, which is expected to launch an initial public offering soon, is currently valued at $56 billion.