Lyft Brings In $500 Million

Transportation company Lyft announced the completion of $500 million in financing, led by CapitalG, Alphabet’s growth investment fund.

According to the company, Lyft is second only to Uber as an on-demand ridesharing service, and it completed its 500-millionth ride earlier this year. The firm said the ride hailing service is available to 95 percent of the U.S. population – up from 54 percent in the beginning of the year.