The ride hailing company, backed by Alibaba, Rakuten, Didi Kuaidi and Tencent, has raised $247.7m at a $4.92bn valuation, $104m of which was provided by Kingdom Holding.
US-based ride hailing company Lyft has raised $247.7m in funding from investors including Kingdom Holding, the investment vehicle of Saudi Arabian Prince al-Waleed bin Talal, the Wall Street Journal has reported.
Kingdom Holding paid $104.9m for a 2.3% stake in Lyft, which has several corporate backers and is now valued at $4.92bn. Lyft is targeting $1bn in its latest funding round, according to documents filed in Delaware.
Lyft operates its app-based service across some 190 American cities, though it has…
