Lyft Received $500m Investment from GM

Lyft, a U.S.-based ridesharing app, announced that it has received a $500m investment from GM.  The investment is part of a wider-ranging strategic partnership that will include a rental program for drivers of the car-sharing service and the creation of an on-demand autonomous car network.  The partnership also marks Lyft’s boldest declaration yet that it intends to operate with self-driving cars in the future.
GM’s investment is part of a larger funding round of $1bn for Lyft, which reportedly values Lyft at $5.5bn.  The round already includes $100m from Saudi Arabia’s Kingdom Holding Company, Janus Capital Management, Rakuten, Didi Kuaidi and Alibaba.  Lyft has now raised $2bn since it was founded in 2013.

Lyft is a member of the Triton Research IPO Watchlist, a continuously updating database of companies we expect to either IPO or be acquired.  The current IPO Watchlist is comprised of 102 companies organized by investment theme.