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Lyft raises $500M

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Ride-hailing service Lyft raised $500 million in a new round of funding, a source familiar with the matter told CNBC.

In 2015, Lyft was last valued at $5.5 billion.

The newest round of funding comes as Lyft continues its plan to roll out coverage to 100 new cities this year.

Read more from CNBC.


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