Lyft is seeking $500 million in funding to better compete with Uber

To say that Lyft is the underdog is a bit of an understatement. Whereas Uber has already raised billions in funding, with billions more to come in the future, and operates in hundreds of cities across the globe, Lyft only operates in the United States. In order to compete with its much larger rival, Lyft has been really aggressive with its deals an incentives, which has proven to be great for both customers and driver, but that alone won’t be enough to compete with Uber. That’s why Lyft is looking to raise $500 million in funding, which would value it at around $4 billion.