Lyft Seeks New Funding to Better Compete With Uber
Skift Take
Lyft needs more financing to keep the wheels of its operation running and expanding, but being recognized as a more human form of ride-sharing is even more important to attracting and keeping users.
Lyft doesn't intend to cede its share of the ride-sharing market to its surging competitor Uber.
The peer-to-peer ride-sharing company and booking app is said to be in talks with new and existing investors to raise $250 million in additional funding that would value the company at $2 billion, according to Bloomberg.
Lyft already raised $332.5 million, a substantial sum but still significantly less than Uber’s $4.9 billion.
