Ride-hailing company Lyft Inc. is completing a new $500 million funding round that sharply increases its valuation at a time when larger rival Uber Technologies Inc. is reeling from a series of scandals. Lyft’s new round puts its valuation at about $7.5 billion including the funds raised, up from a previous valuation of $5.5 billion early last year, according to a person familiar with the matter. The company disclosed the new funding...

Source: Wall Street Journal April 06, 2017 17:03 UTC