China ride-hailing app Caocao raises $588m
Caocao Chuxing, the ride-hailing arm of Chinese automaker Geely, has raised a RMB3.8 billion ($588 million) Series B round from five state-backed investors.
This is the first PE investment in China's ride-hailing space in 2021. Caocao is one of several operators - such as Meituan, Gaode, Haro, Dida, and T3 - that are looking to capitalize on the misfortunes...
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