Alibaba, Third Point, Coatue, Others Invest $250 Million In LyftMani
Lyft, the smartphone app for sharing rides, raised $250 million from a group that includes the Chinese e-commerce titan Alibaba Group.
The funding would help the San Francisco-based ride-sharing service provider to compete with rival Uber.
Massive series D funding
Lyft is part of the increasingly popular ride-share industry, functioning effectively as a sort of dispatch network for regular drivers use their own cars to pick up passengers. Its main rival is Uber, which investors like TPG have already valued at $3.5 . . .
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