Lyft is looking for another $1 billion in funding to compete with Uber

With a higher valuation than all of its competitors combined, Uber is the undisputed leader of the ride-sharing market, which is why so many of its smaller competitors have been joining forces, because there’s no way they can compete with Uber by themselves. That being said, forming partnerships doesn’t do much if you don’t have money to expand, which is why Lyft is looking for as much as $1 billion in new funding. That much funding would bring the startup’s valuation to around $4 billion, which is definitely impressive, but Uber’s projected valuation is nearly sixteen times that amount.