Deals
KKR Among Lyft Investors at $7.5 Billion Valuation for Startup
- Ride-hailing company closes $600 million funding round
- Baillie Gifford, Canadian pension fund also new investors
Elevation Partners' McNamee Says #DeleteUber Was Fair
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Lyft Inc., the San Francisco-based ride-hailing company, said it has closed a $600 million round of financing, valuing the company at $7.5 billion. New Lyft investors include private equity firm KKR & Co., asset management firms Baillie Gifford and AllianceBernstein LP and the Canadian pension fund PSP Investments, the company told Bloomberg News.
Lyft, first known for its pink-mustachioed cars, last raised $1 billion at a $5.5 billion valuation in a December 2015 round led by General Motors Co. This latest funding round includes existing investors Rakuten Inc. and Janus Capital Group Inc.