Lyft Raises $150 Million to Take on Uber

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The race is onLyft, a ride-sharing service that competes with Uber, is raising a $ 150 million round of funding

The Series D round was revealed in a filing discovered Saturday by Re/code. Lyft had previously raised a total of $ 82 million.

The company has closed $ 80 million of that funding round, according to Re/code and The Wall Street Journal, with plans to raise another $ 70 million

Both publications report that Lyft is now valued at $ 700 million. Reps for Lyft did not immediately respond to our request for comment

The latest funding round, which had been rumored earlier in the year, comes a little more than six months after Uber raised a $ 258 million round at a reported $ 3.5 billion valuation Read more…

More about Funding, Startups, Uber, Business, and Lyft
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