SaveSave story

Lyft is raising another $500 million

Josh Edelson / AP

Ride-hail company Lyft is seeking to raise up to $500 million in additional funding, according to a share authorization document filed yesterday in Delaware. This comes one month after Lyft announced a planned $1 billion infusion led by CapitalG, an investment arm of Google parent Alphabet. A company spokesman stresses that the $500 million is not yet closed, but adds: "Increasing the potential for this round will allow us to further accelerate our commitment to serving passengers and drivers."

Details: The new investment would be an extension of the CapitalG-led round, at the same share price of $39.75. That means the $10 billion pre-money valuation remains static, but the post-money could now value Lyft at $11.5 billion.

Below is the Delaware document, which was provided to Axios by Lagniappe Labs (creator of the Prime Unicorn Index)

David McCabe 3 hours ago
SaveSave story

Pressure grows on Facebook over data scandal

Facebook CEO Mark Zuckerberg walks with trees behind him
Facebook founder Mark Zuckerberg. Photo: Drew Angerer / Getty Images

The number of calls for investigations into Trump-linked Cambridge Analytica's illicit gathering of Facebook data grew on Sunday.

What they're saying: There are concerns over Cambridge Analytica, which did work for the Trump campaign, gathering the data on millions of Facebook users. And there are also worries that the social platform didn't handle the incident properly, prompting lawmakers to raise their voices over the past few days on both sides of the pond.

SaveSave story

The high stakes for AT&T's courtroom showdown

Getty Images

AT&T’s $85 billion attempt to buy Time Warner and its way into the content business goes to trial on Monday, kicking off a courtroom battle with the Justice Department that could stretch on for two months.

Why it matters: When the deal was announced nearly 18 months ago, it was viewed as a fairly sure thing. But its prospects gradually dimmed as President Trump criticized it from the campaign trail and DoJ moved to block it. The outcome of the case will not only determine AT&T's future, but also the future of tech, media and telecom deals in general.