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Lyft raises $600 million in new funding

Photo: Lyft

Lyft has raised $600 million in new funding led by existing investor Fidelity at a valuation of $15.1 billion post-money, up from $11.7 billion at the previous round.

Why it matters: Though Uber and Lyft remain in tight competition in the U.S. ride-hailing market, Lyft has been touting steady gains over its much larger competitor.