Monday, January 4, 2016

Lyft Picks Up $1 Billion From General Motors, Others

San Francisco-based Lyft has picked up a huge, $1 billion funding round from General Motors, along with other investors like Kingdom Holding Company, Janus Capital Management, Rakuten, Didi Kuaidi and Alibaba. Lyft said General Motors invested $500M in the new round--its Series F--with Kingdom Holding investing $100M in the round. As part of the investment deal, Lyft said it will work with GM to build a network of on-demand, autonomous vehicles, along with a rental effort to allow Lyft drivers to access short-term vehicles. More information »