July 20, 2017

KKR Among Lyft Investors at $7.5 Billion Valuation for Startup



Lyft amp
Image Courtesy of Lyft

Ride-hailing company closes $600 million funding round

Baillie Gifford, Canadian pension fund also new investors

Lyft Inc. , the San Francisco-based ride-hailing company, said it has closed a $600 million round of financing, valuing the company at $7.5 billion. New Lyft investors include private equity firm KKR & Co., asset management firms Baillie Gifford and AllianceBernstein LP and the Canadian pension fund PSP Investments, the company told Bloomberg News.

Lyft, first known for its pink-mustachioed cars, last raised $1 billion at a $5.5 billion valuation in a December 2015 round led by General Motors Co. This latest funding round includes existing investors Rakuten Inc. and Janus Capital Group Inc.

Lyft is tapping a set of investors who frequently back public companies or provide funding just ahead of an initial public offering. The company has been quiet about the timing of an IPO, but investors in Lyft and Uber Technologies Inc. have long speculated that Lyft would be smart to try to enter the public market before its much larger competitor. One Uber investor compared the dynamic to the Chinese e-commerce companies Alibaba Group Holding Ltd. and JD.com Inc. Once the smaller JD.com went public, Alibaba soon followed. George Roberts […]

From Around The Web

Sponsored Content by AdNow
loading...
About NGE Staff 9421 Articles
The News for the Gig Economy Staff is constantly searching the web for the latest news regarding freelancing and gig platforms to bring them to you in one handy place. All articles with this generic author have been sourced with the original location at the bottom of the piece. We encourage our readers to view the original source of all excerpts. NGE is a project of ARC Online, LLC.

Be the first to comment

Leave a Reply

Your email address will not be published.


*