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Lyft raising extra $500 million over late $1 billion round

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Lyft is trying to raise an extra $500 million, far beyond the $1 billion it brought up in a round drove by Alphabet wander arm CaptialG a month ago. The $500 million is an augmentation of that round, the organization told Axios, and isn’t yet shut. In any case, it should add to Lyft’s general valuation once shut, bringing its post-many aggregate to $11.5 billion.

The round expansion would enable Lyft to put more cash into its traveler and driver items, the organization told Axios. It would likewise come at a vital time for Lyft, since it’s set to venture into its initially showcase outside the U.S. in December with a dispatch in Toronto and Hamilton in Canada.

Lyft has truly pushed the quickening agent on its development this year, moving to cover 95 percent of the U.S. populace with more than 100 new market augmentations amid 2017. It’s likewise touting a turning point of more than 500 million rides and tallying, and extending its self-governing innovation testing program, with a current allow procured from the California DMV for testing on state streets.

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