Funding

Lyft the Transportation Platform Has Raised $530 Million in Series E Funding

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What does Lyft do?

Lyft, is a peer to peer transportation platform which connects passengers who need rides with drivers who are willing to provide rides using their own personal vehicles. Lyft was started in 2012 with the mission of building a peer to peer transportation solution which would help make cities safe, affordable and connected better.

How much Lyft was funded?

The riding platform Lyft has raised $530 M in Series E funding on March 11th, 2015 led by the Japanese e-commerce giant Rakuten.  Rakuten has contributed $300 M in the Series E round.

Previous funding

  • $300k  in Seed round on Jun 1, 2009 by fbFund
  • $1.2M  in Seed round on Aug 23, 2010 by K9 Ventures, FLOODGATE and Keith Rabois.
  • $6M  in Series A on Sep 21, 2011 by Mayfield Fund, K9 Ventures, FLOODGATE and AFSquare
  • $15M  in Series B on Jan 30, 2013 by Benjamin Ling, Ooga Labs, Mayfield Fund, K9 Ventures, FLOODGATE and Founders Fund
  • $60M  in  Series C funding on May 23rd , 2013 by Andreessen Horowitz
  • $250M  in Series D funding on Apr 2, 2014 by Melo7 Tech Partners, GSV Capital, QueensBridge Venture Partners, Coatue Management, Mayfield Fund and Founders Fund

What is next for Lyft?

Lyft has been only available in the U.S to dat, but with the latest funding, Rakuten it could help the company launch its service into new markets both domestically and overseas. To court new users, its branding intiative consists of  a bulky, furry mustache called the “glowstache” which the driver affixes to the front of their car so that the passengers will know they are getting into a Lyft.

 

More about Lyft

Lyft Inc was launched in 2012 by Marcus Cohn, Logan Green, Matt Van Horn and John Zimmer.  It is based in San Francisco.

When you use Lyft, passengers have 3 options when it comes to choosing the ride

Lyft- the original offering which matches a passenger with a driver nearby

Lyft Line- shared rides along shared routes, priced for daily use. It is available in San Francisco and Los Angeles. It is priced for daily use. When the passengers set their destination, Lyft will connect them to a ride which is going the same way already.

Lyft Plus- This is Lyft’s 6 passenger ride for when passengers require more space, or want to roll with more of their friends.

 

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