Tags: Lyft | Raise | Funding | Valued

Lyft Said to Raise $500 Million, Now Valued at $7.5 Billion

Image: Lyft Said to Raise $500 Million, Now Valued at $7.5 Billion
Mohamed Ahmed Soliman | Dreamstime.com 

Thursday, 06 Apr 2017 05:00 PM

Ride services company Lyft Inc. has nearly completed a funding round of at least $500 million, valuing the company at $7.5 billion, according to a source close to the company.

San Francisco-based Lyft has been in fundraising mode for some time as it spends heavily to compete with its much bigger rival Uber Technologies Inc. The $7.5 billion valuation marks a sharp increase from the $5.5 billion valuation at Lyft's last financing more than a year ago.

Lyft had previously expected to command a valuation of between $6 billion and $7 billion in its newest funding round , but the source said the valuation had been revised upward. 

© 2017 Thomson/Reuters. All rights reserved.

 
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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
Lyft, Raise, Funding, Valued
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2017-00-06
Thursday, 06 Apr 2017 05:00 PM
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