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China-based ride-hail player Didi Chuxing and Softbank are investing a combined $2 billion in Grab, the dominant ride-hail startup in South East Asia.

The startup also expects to raise an additional $500 million from other investors as part of this round. Provided it closes the additional sum, the company’s valuation would top $6 billion, according to a source familiar with Grab’s fundraising. [ Recode ]