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Uber is asking its investors for more money to expand in China

Jun 12, 2015, 04:13 IST

Uber is nearing 1 million rides a day in China now and looking to raise new funds to expand there, according an email leaked to the Financial Times.

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The email said, "given the enormity of the opportunity," its formally launching a fundraising round for UberChina on June 22. Uber is inviting its previous investors to participate in it.

Uber has not responded to request for comment.

"Simply stated, China is the #1 priority for Uber's global team," Kalanick said in the email. Guangzhou, Hangzhou and Chengdu are now the three largest cities on a trips basis, overtaking New York, according to the note.

The company has previously raised more than $5 billion in several funding rounds, including a $600 million investment from Chinese company Baidu.

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