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Lyft raising $500M in additional funding

Ride-hailing company Lyft Inc. is raising as much as $500 million in additional funding, Axios reported, citing a share authorization document filed Nov. 21 in Delaware.

A company spokesperson said that the multimillion-dollar investment is not yet closed.

The new funding would reportedly be an extension of the recent $1 billion financing round led by Alphabet Inc.'s growth investment fund CapitalG, at the same share price of $39.75.

The post-money valuation could value California-based Lyft at $11.5 billion, according to the report.