Lyft, the second-largest journey hailing corporate in america, is making an attempt to boost more cash simply as Uber, its larger rival, grapples with questions on its tradition and management.
Lyft is speaking with traders about new fund-raising that will put the corporate’s worth round $6 billion, consistent with 3 other folks briefed at the financing who requested to stay nameless for the reason that court cases are confidential. One of the crucial other folks mentioned the valuation may well be as top as $7 billion.
The corporate used to be valued at $five.five billion early ultimate yr after traders, together with Normal Motors, poured about $1 billion into it. It’s unclear how a long way alongside Lyft is with the brand new fund-raising and whether or not the spherical might be finished.
Lyft, which is primarily based in San Francisco, declined to remark. The investment effort used to be previous reported via The Wall Side road Magazine.
The fund-raising would possibly bolster Lyft competitively, for the reason that Uber has been stuck up in an escalating sequence of inside issues.
Travis Kalanick, Uber’s leader govt, has been below scrutiny this yr for his participation in an financial advisory council for President Trump amid a social media marketing campaign for other folks to delete their Uber app. Mr. Kalanick ultimately stepped down from the council.
Uber has additionally wrestled with issues about its place of business tradition over the last few weeks, after a former worker printed…