Lyft set to boost investment with sizable $150 million+ Series D [Update]
*Update*: Lyft has confirmed funding of $250 million from existing investors Andreessen Horowitz, Founders Fund and Mayfield as well as Coatue and Alibaba Group. Funds will go towards expansion in both the US and internationally. According to the Lyft blog, the startup has grown from two cities a year ago to 30.
Original story from here
Ride sharing startup Lyft is set to ramp up operations with a pending $150 million Series D round of financing.
The startup filed the paperwork below in Delaware, marking movement towards the completion of a Series D. The company is offering up 17,804,726 shares at a price of $10.1319 each in the Series D round.
The last round of cash valued shares at $4.2474, so this is more than a 40% increase in valuation of the stock price in this round.
TechCrunch claims that the lead investor is Coatue Management; Tnooz has reached out for confirmation but hasn’t yet heard back.
NB: Car cash image courtesy Shutterstock.
Nick Vivion is a writer and strategist. He was a Tnooz reporter and global events lead between August 2012 and July 2015. He was the launch co-founder of Booty's, a global street food restaurant in New Orleans and was recently AVP Operations, North America, at Zomato.