Lyft has raised $600 million in additional funding, valuing the ride-hailing company at $15.1 billion. The money will fund the company’s heated competition with the much more valuable — and better funded — Uber.
The funding round was led by Fidelity Management and Research Company, and was raised primarily from existing investors. It comes over six months after raising $1.5 billion led by CapitalG, Google’s venture arm. At the time, the company was valued at $11.5 billion.
The financing news comes at a time when its main rival Uber is beginning to stabilize after a bruising 2017. Lyft had sought to capitalize on the #DeleteUber phenomenon by marketing itself as a more “woke” alternative. Lyft gained market share and spread into Canada,...
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