Lyft raises $150 million in funding
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
Lyft, the ride-sharing service that use cars with a pink mustache on the front grill, has raised a Series D round of funding. The Series D round of funding was revealed in a document filed in Delaware this week.
This new round was for 14.8 million shares with a liquidation preference of $10.13. All of the investors were not named in the filing, but Coatue Management was involved according to sources with Re/code. This round gives Lyft a pre-money valuation of $700 million.
As a comparison, Lyft’s largest rival raised $250 million at a $3.5 billion valuation last year. Prior to this round, Lyft raised slightly more than $80 million in funding from Founders Fund, FLOODGATE, Mayfield Fund, K9 Ventures, Ooga Labs, Andreessen Horowitz, and Keith Rabois.