Lyft raises $1B, adds GM as investor

Ride-hailing company Lyft announced on Monday it has a new investor and business partner in the form of General Motors Co.

Lyft completed a $1 billion funding round, half of which was provided by GM. The Detroit automaker, now also a business partner, plans to deploy self-driving cars as part of Lyft’s fleet, according to Fortune.

With the funding round complete, the company has a $5.5 billion valuation, up from $2.5 billion in March 2015.

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