Uber rival Grab gets $2 billion funding from Didi, SoftBank

Ride-hailing app Uber's biggest Southeast Asia rival Grab has raised $2 billion in new funding from existing investors SoftBank, and Didi Chuxing, the company that bought Uber's China business. The round could expand by $500 million with funding from other existing backers and new investors. The new funding gives Grab a valuation of more than $6 billion.