Los Angeles — Lyft has raised $1bn in fresh financing, the ride-services company said on Thursday, in a round led by one of Alphabet’s investment funds, further complicating the convoluted world of ride-hailing alliances and dealing a blow to rival Uber Technologies. The round was led by CapitalG, the growth investment fund of Alphabet that has also backed large private tech companies such as home-renting platform Airbnb and payments firm Stripe. Six months ago, Lyft raised $600m from a conglomeration of investors. Lyft said the latest round boosts its valuation to $11bn from $7.5bn. CapitalG partner David Lawee will join the company’s board, Lyft said, bringing it to a total of 10 directors. "Ridesharing is still in its early days and we look forward to seeing Lyft continue its impressive growth," Lawee said.
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