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Comment on China Life Invests US$200M in Uber: Source by Clara Naomi
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Comments for TechNode
Uber has received US$200 million of fresh funding led by Chinese insurance company China Life with participation from other, unnamed investors, a person familiar with the matter told TechNode yesterday.
The deal will be Uber’s second capital injection from Chinese investors in past five months.
China search giant Baidu poured an undisclosed investment into Uber in December last year, and granted Uber access to the search giant’s local map service.
As one of the largest life insurers in China, China Life previously cooperated with local ride-share app Haha Pinche.
China Life’s insurance services and its government connections are expected to assist Uber in its bid to localize.
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