Uber and Lyft have each doubled their fundraising

Uber

Uber and Lyft have each doubled their fundraising to amass a combined $3.1 billion from investors, underscoring how the most prominent Silicon Valley start-ups still have access to capital even as some smaller companies struggle to access money. As part of its fundraising, Uber has landed a partnership with Guangzhou Automobile Group, as the ride-hailing company continues an aggressive push into China… Lyft is raising $1 billion at a valuation of $4.5 billion, which is more than double its valuation in May… Meanwhile, Uber is raising $2.1 billion at a valuation of $62.5 billion, one of the highest valuations for a Silicon Valley start-up… Fundraising among start-ups this year has reached highs not seen since the dotcom era, with about $100 billion invested during the first nine months of the year… However, fewer deals have been done than last year, and investors have become increasingly sceptical of the valuations recorded by some Silicon Valley start-ups.

 

Leslie Hook

Food4Brains

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