Uber Rival Lyft Raises $530M, Will Beef Up IT 54
jfruh writes "Uber may seem like an unstoppable juggernaut, but its main carhailing service rival Lyft isn't giving up. The company just raised half a billion dollars in funding, much of it from Japanese investors. From the article: "Lyft has raised US$530 million in its latest funding round, and plans to use the money to beef up its IT staff, expand its footprint and boost existing services. Japanese e-commerce company Rakuten led the round. With the latest cash infusion, Lyft has raised a total of $862 million from investors. The ride-hailing company is now reportedly valued at $2.5 billion."
