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.
Read more(Corrects paragraph 4 to clarify The Ascott is investing $50 mln with other investors) HONG KONG (Reuters) – Tujia, a Chinese vacation rental company similar to home rental firm Airbnb Inc, said on Monday it had raised $300 million from a group of investors to expand its business overseas, increase marketing and offer new products. The deal values Tujia at more than $1 billion, the Chinese company added without disclosing the size of the stake the investors bought. Other investors included existing Tujia shareholders and The Ascott Ltd, a serviced residence business owned by Singapore’s CapitaLand Ltd, that is leading a consortium to invest $50 million in Tujia.
Read moreBy Paul Carsten BEIJING (Reuters) – Indian online marketplace Snapdeal is set to raise $500 million from a group of foreign investors including China's Alibaba Group Holding Ltd, three people familiar with the matter said on Monday. The latest round of support, from investors also including SoftBank Group Corp and Foxconn, the trading name of Hon Hai Precision Industry Co Ltd, would value Snapdeal at more than $5 billion, another person said. The move is a show of faith from three of the world's biggest technology companies in fast-growing Snapdeal, which in October secured a $627 million investment from SoftBank, itself an early backer of Alibaba.
Read more(Reuters) – French telecom group Orange SA confirmed on Wednesday that it has been sued in California by San Francisco-based startup Telesocial in an intellectual property case, but said that the startup’s claims were unfounded. Orange said Telesocial has already taken the company to two French courts including the Paris Court of Appeal based on the same complaints, but in both cases the claims were rejected. “This reinforces our view that Telesocial’s complaints are totally lacking in merit,” the group said in an emailed statement
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