Uber has confirmed a $1.2 billion USD funding boost from previous backer Chinese search engine giant Baidu. It comes as Didi Kuaidi, their primary competitor in the market, is reportedly about to close a round of around $3 billion from its own investors.

It’s now become an all out war for market share as investors show they are not afraid to subsidize services in order to take a bigger piece of the Chinese ride-share pie. 

Uber CEO Travis Kalanick told Chinese tech media site Sina.com that the financing round is still not finished, and that finding a suitable partner in the Chinese market was more important than the funding itself. 

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Cate Cadell

Cate is a tech writer. She worked as a journalist in Australia, Mongolia and Myanmar. You can reach her (in Chinese or English) at: @catecadell or catecadell@technode.com