The ride sharing company has upped its funding target from $500m to $1bn, though it is unclear whether existing backers including Alibaba, Tencent, Didi Kuaidi and Rakuten will reinvest.
Lyft, a US-based ride hailing app operator backed by several corporate investors, is raising up to $1bn in its latest funding round, Bloomberg reported on Monday, citing a Delaware state filing.
The filing did not disclose how much Lyft has so far raised, nor the valuation at which it is seeking the funding, though it is likely to be somewhere between $3.9bn and $4.5bn, experts told Bloomberg.
Launched in 2012 as an offshoot of rise sharing startup Zimride, Lyft has…
