GM Plans to Work With Lyft to Develop System for Self-Driving Cars
Lyft, Inc. ("Lyft") today announced that it is closing $1 billion with a $500 million investment from General Motors. GM will also have a seat on Lyft's board. Kingdom Holding Company invested $100 million making the total investment of Kingdom Holding and its affiliates approximately $250 million. Several new and existing Lyft investors were also in the round including Janus Capital Management, Rakuten, Didi Kuaidi and Alibaba. Following this latest round, Lyft is valued at $5.5 billion, post money.