Date
27 May 2017
Lyft is said to be raising fresh funds at a valuation of nearly US$4.9 bln. Photo: Bloomberg
Lyft is said to be raising fresh funds at a valuation of nearly US$4.9 bln. Photo: Bloomberg

Uber’s rival Lyft seeks up to US$1 bln in new financing

Lyft Inc, Uber’s biggest competitor in the United States, is seeking up to US$1 billion in a Series F funding round, Reuters reported.

The ride-hailing services firm is selling preferred stock to investors at US$26.79 per share, the report said, citing a filing provided by VC experts.

According to the filing dated Dec. 18, Lyft would be selling 37.3 million shares in its latest financing round.

If all of the Series F shares are issued, Lyft would have a post-money valuation of about US$4.88 billion, a VC Expert was quoted as saying.

Lyft was valued at US$2.7 billion in its previous financing round earlier this year which was led by Japanese online retailer Rakuten.

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RC

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