Lyft secures $600 million thanks in-part to international investors

[hellokitty[hk]]

Lyft wants to show the world that it's long from giving up the fight against Uber, and have confirmed a new round of funding worth $600 million. This puts them at nearly $3 billion in aggregate funding. Although it's still a far cry from the $9 billion of Uber, Lyft is looking to close the gap.

Following a string of backlash regarding Uber's business practices, Lyft is capitalizing by crafting their image as a company that takes care of it's employees and community, to good effect. Compared to last year, Lyft has seen a 142 percent increase new passengers week over week, including a 60 percent increase directly following the #deleteuber campaign.

This time, the second-largest ride-hailing service in the US has captured the attention of several notable global investors including AllianceBernstein, Baillie Gifford, KKR, and Canada’s Public Sector Pension Investment Board (PSP).

There is no word yet on how the money will be spent, but it will certainly fuel some of the new technologies and services that Lyft has been rolling out recently.

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https://www.techspot.com/news/68915-lyft-secures-600-million-thanks-part-international-investors.html

 

[Raoul Duke]

".....captured the attention of several notable global investors including.................Canada’s Public Sector Pension Investment Board (PSP)."
great to know your pension funds are being handled so carefully