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March 9, 2014 11:29 pm GMT

Lyft Raises $150 Million to Take on Uber

Lyft

The race is onLyft, the pink-mustache-wearing, 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.

See also: 10 Startups to Watch in 2014

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

Original Link: http://feeds.mashable.com/~r/Mashable/~3/uNuZeqo9KS8/

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