Lyft valued at $15.1 billion after new funding round

Lyft has raised $600 million in additional funding, valuing the ride-hailing company at $15.1 billion. The money will fund the company’s heated competition with the much more valuable — and better funded — Uber.

The funding round was led by Fidelity Management and Research Company, and was raised primarily from existing investors. It comes over six months after raising $1.5 billion led by CapitalG, Google’s venture arm. At the time, the company was valued at $11.5 billion.

The...

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