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Rideshare Lyft Pick Up Approved at LAX Starting Christmas Week
State officials say they can’t do a proper study on background checks that lawmakers wanted as a condition for allowing ride-hailing companies Uber and Lyft in Nevada.
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Lyft didn’t indicate in the Friday evening filing how much had been raised, who was investing in the round or list a valuation.
Documents prepared by Credit Suisse Group showed the company had been in talks to raise US$500 million, Bloomberg reported last month.
According to Justin Byers, director of business intelligence at VC Experts, the company’s private stock is now $26.79 per share. Neither EconoTimes nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.
Lyft had previously raised close to $1 billion from investors including hedge-fund titan Carl Icahn and Chinese ride- sharing company Didi Kuaidi Joint Co.
Lyft is competing aggressively with Uber, which recently filed to raise $2.1 billion at a $62.5 billion valuation.
“Tomorrow, we will have “Lyft-off” at LAX, giving our passengers what they have been asking for, another safe and convenient way to get to and from the airport”, Garcetti said in a statement.
For now, Lyft is “excited to be the exclusive ride-share option” of LAX, spokeswoman Chelsea Wilson told the L.A. Times.
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Both Uber and Lyft operate on a similar model, permitting riders to summon a nearby auto through a smartphone app. However, the companies’ strategies set them apart. The global alliance, which will go into effect next year, will make it easier for customers to travel internationally. It said last month it has gained market share in key markets such as San Francisco, and has a gross revenue “run rate” of $1 billion.