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China state fund CIC invests in taxi app Didi Kuaidi: source

August 3, 2015 publisher china, citywide-jobs, matter, media, not-authorized, now-valued, person-said, queens, recent-months, said-on-tuesday, source-did, startup, technologies, the-matter

China's sovereign wealth fund has invested an unspecified amount in Didi Kuaidi, China's dominant ride-hailing app which is competing against U.S. firm Uber Technologies, a person with knowledge of the matter said on Tuesday. The person said China Investment Corp (CIC) was one of several investors that injected more than $2 billion in recent months into the startup, which is now valued at $15 billion.