Lyft Said to Raise $500 Million in New Round of Funding

Lyft Inc. has raised about $500 million in a new round of funding that will value the ride-sharing company at $7.5 billion, according to a person familiar with the investment.

The funding round isn’t concluded and could expand further, said the person, who asked not to be identified because the investments haven’t been announced publicly. The funding was reported earlier by the Wall Street Journal.