Daily News

View All News

Lyft announces $1 billion funding round led by Google investment fund

October 19, 2017

Human cloud, ride-sharing firm announced in a blog post that it received $1 billion in a funding round led by CaptialG, an investment fund formed by Alphabet, the parent of Google. The investment brings Lyft’s post-money valuation to $11 billion.

The deal calls for CapitalG Partner David Lawee to join Lyft’s board. Lawee was formerly Google’s VP of corporate development.

“2017 has been an important year for the Lyft community,” according to the company. “Earlier this month, we completed our 500 millionth ride and our service is now available to 95% of the US population — up from 54% at the beginning of the year.”