Deals
Uber's Rival Lyft Plans to Raise Up to $1 Billion in New Funds
- The ride-hailing startup could be valued at $4.5 billion
- Lyft has been in talks to raise $500 million, documents show
Lyft Inc. Application
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Ride-hailing company Lyft Inc. plans to raise as much as $1 billion in new funds, according to a Delaware state filing, in a round of financing analysts said could sharply boost the valuation of Uber Technologies Inc.’s largest U.S. rival.
Lyft didn’t indicate in the Friday evening filing how much had been raised, who was investing in the round or list a valuation. Sven Weber, a financial filings expert, pegged the pre-money valuation at about $4.5 billion while Justin Byers at VC Experts estimates it closer to $3.9 billion. Lyft was valued at $2.5 billion when it announced a previous funding round in March.