Lyft raises $80M at reported $700M pre-money valuation

Lyft, the developer of a ride-sharing mobile app, has raised $80M in a Series D fundraising round, with reports saying that the company was given a pre-money valuation of $700M.

Andreessen Horowitz was one of the investors.

The company is looking to bring in another $70M as part of the round.

Lyft competes with Uber, which raised $250M at a $3.5B valuation last summer.

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