Uber's competitor Lyft to raise up to $1b in new round

Uber's competitor Lyft to raise up to $1b in new round

A driver with the ride-sharing service Lyft waits for a customer on a street in Santa Monica, California October 17, 2013. REUTERS/Lucy Nicholson

Ride-hailing app Lyft Inc, Uber Technologies Inc’s biggest competition in the United States, expects to raise up to $1 billion in a new round of financing, Bloomberg reported citing a Delaware state filing.

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