Mexican Media Brands
Lyft’s Funding Round Grows 50%
Lyft Inc. says its latest round of fundraising expanded 50% to $1.5 billion and boosted the ride-hailing service’s valuation to $11.5 billion.
#economics
Share
Lyft Inc. says its latest round of fundraising expanded 50% to $1.5 billion and boosted the ride-hailing service’s valuation to $11.5 billion.
The round was led by Alphabet Inc.’s CapitalG investment arm. Lyft says other major participants were AllianceBernstein, Baillie Gifford, Fidelity Investments, Janus Henderson, KKR, the Ontario Teachers’ Pension Plan and Rakuten.
Bloomberg News notes that Lyft has been gaining market share lately at the expense of its larger but troubled rival, Uber Technologies Inc. Uber has been struggling all year with multiple scandals, legal skirmishes, regulatory battles and the ouster in June of cofounder and CEO Travis Kalanick.
Lyft has been spending more heavily in recent months to capitalize on its rival’s travails, Bloomberg notes. A private investor document obtained by the financial news service predicts Lyft will stop losing money for the first time in 2018.
RELATED CONTENT
-
Things to Know About Cam Grinding
By James Gaffney, Product Engineer, Precision Grinding and Patrick D. Redington, Manager, Precision Grinding Business Unit, Norton Company (Worcester, MA)
-
TRW Multi-Axis Acceleration Sensors Developed
Admittedly, this appears to be nothing more than a plastic molded part with an inserted bolt-shaped metal component.
-
Jeeps Modified for Moab
On Easter morning in Moab, Utah, when the population of that exceedingly-hard-to-get-to town in one of the most beautiful settings on Earth has more than doubled, some people won’t be hunting for Easter eggs, but will be trying to get a good look at one of the vehicles six that Jeep has prepared for real-life, fast-feedback from the assembled at the annual Easter Jeep Safari.
