Home » General Nugget » On-Demand Ride-Sharing Startup Lyft Is Raising Another Big Round Of Funding

On-Demand Ride-Sharing Startup Lyft Is Raising Another Big Round Of Funding

Lyft is definitely a company to watch!

TechCrunch

Lyft is raising yet another big round of funding, according to sources. The company, which is seeking to make ride-sharing mainstream in cities across the U.S. and around the world, is expected to use the new cash to fund expansion into new cities and territories.

We’ve heard Lyft has pitched a number of venture firms and late-stage institutional investors, but hedge fund Coatue Management seems to be in the lead for the deal. Coatue has recently invested in hot companies like Box, SnapChat, and HotelTonight, and is part of a growing trend of hedge funds making bets on later-stage startups with traction.

Andreessen Horowitz, which led Lyft’s $60 million Series C round, is also expected to contribute a large chunk of cash. Other investors in Lyft include Founders Fund, Floodgate, Mayfield Fund, K9 Ventures, Ooga Labs, fbFund, and Keith Rabois.

The company was founded as Zimride…

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