Lyft Raising $500 Million Above $1 Billion Round
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Lyft Raising $500 Million Above $1 Billion Round

Lyft Raising 500 Million Above 1 Billion Round

Ride hailing company Lyft is trying to raise close to $500 million in additional funding, according to a shared authorization document filed in Delaware. The additional funding is led by Alphabet Inc’s Capital G. The new funding would be an extension of the funds raised by Lyft in the month of October in a round also led by Capital G, in which the company boosted its valuation to $11 billion from $7.5 billion. With the extended funding, the company valuation would rise to $11.5 billion.

Lyft spokesman, Adrian Durbin, confirmed the funding round in a statement via email. He wrote, “Increasing the potential for this round will allow us to further accelerate our commitment to serving passengers and drivers.”

Below is the link to the Delaware document which was provided to Axios:

Lyft is Uber’s biggest rival in the United States. While the company is primarily based in the U.S., it recently announced expansion plans into Toronto, Canada. The company is currently gaining considerable momentum in terms of both its ride hailing business and self-driving partnerships.

Tanuja Thombre
Tanuja Thombre
A Soft Skills and Behavior Trainer by passion and profession, with 8 years of experience into Mortgage Banking sector. Currently I am working as a Training Consultant and I cater to the training needs across various industries. This also allows me to interact with, train and learn various aspects of human modes. Adorned with certifications from various institutes like Dale Carnegie & Steven Covey. I have a natural instinct for writing; every once a while, a Blog, a short article and in the future I plan to author a Book. When it comes to writing, I believe there is seldom anything as appealing as Simplicity.

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