Lyft wants to pick up an uber-large, $1 billion Series D

Transportation network company Lyft aims to raise up to $1 billion in new funding it revealed in a Delaware state filing — which didn’t name investors or state what valuation had been placed on the company.

In the past 18 months, the US startup has raised a half-dozen rounds that are estimated to total one billion — with a half-billion round revealed earlier this year.

Last summer, Uber was looking for an additional $2 billion in funding.

Didi Kuaidi, the leading taxi app business in China, raised $2 billion. In September, Lyft allied with it as part of a grand coalition of transportation network companies aiming to outflank Uber through calculated, limited cooperation.

Bloomberg News reports that “Lyft lost $127 million in the first half of 2015 on $46.7 million in revenue.” See its full news report, here. See Lyft’s filing, here.

Uber, still the largest of the players, filed to raise $2.1 billion at a $62.5 billion valuation earlier this year — making it theoretically better than any other privately-held US technology company. It claims to be profitable in dozens of cities.

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Sean O'Neill

About the Writer :: Sean O'Neill

Sean O’Neill had roles as a reporter and editor-in-chief at Tnooz between July 2012 and January 2017.



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