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Lyft raises $530 million in latest funding round
Lyft has raised US$530 million in its latest funding round, and plans to use the money to beef up its IT staff, expand its footprint and boost existing services.Japanese e-commerce company Rakuten led the round. With the latest cash infusion, Lyft has raised a total of $862 million from investors. The ride-hailing company is now reportedly valued at $2.5 billion.Lyft, based in San Francisco, said Wednesday it will use the funding to increase its presence in the 65 U.S. cities where it operates and to expand to other markets.To read this article in full or to leave a comment, please click here