Lyft raises $600M at $7.5B valuation
Lyft has raised a total of $600 million in new sources of funding, with a post-money its evaluation of $7.5 billion, the company announced via its blog on Tuesday. Reports had indicated the invoke was in process, though the most recent figure pinned the total at $500 million, though that was prior to its closing.
Lyfts investment included new funding partners including Canadas Public Sector Pension Investment Board, as well as participation from Alliance Bernstein, Baillie Gifford, KKR and previous investors Rakuten, Janus Capital and others.
The funding wreaks Lyfts total funding to $2.61 billion, which is a massive sum unless you consider the fantastically competitive seat within which they control, which includes Uber, with $8.8 billion expended across 13 rounds.
Lyfts funding arises at a crucial juncturefor the ride acclaiming firm, where reference is has perhaps more opening than ever to capitalize on adversary Ubers recent difficulties, which include cultural issues, sexual abuse accusations and legal question around its self-driving vehicle planned. Lyft has also been aggressively engaging U.S. stretch, contributing over 100 new marketplaces so far in the country in 2017.
Thus far in 2017, Lyft has attended journeys prance 34 percent to 70.4 million total sequentially when compared to the last quarter of 2016, and its likewise up 142 percent year-over-year. New user registration was up over 60 percent week-over-week immediately following the #DeleteUber campaign early this year.