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Jeff Chiu / AP

Ride-hailing company Lyft reportedly has raised at least $500 million in new venture capital funding at around a $7.5 billion post-money valuation, according to multiple reports. Axios has also heard the same from a source familiar with the situation, although the company itself isn't commenting.

No word on new investors in the round, which could grow larger before a final close.

Why it matters: Lyft remains far behind Uber in terms of both money raised and usage, but continued investment at higher valuations indicates that investors remain comfortable with its second-place position. This new round also comes at a time of major turmoil at Uber, and as Lyft reportedly plans to expand its service outside of the U.S.

Still not there: While this round does represent a significant valuation bump for Lyft, it remains well below the $10 billion that multiple sources say Lyft was asking for in a sale process last summer. No companies ultimately submitted bids.

Go deeper

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Health: Most vulnerable Americans aren't getting enough vaccine information — Fauci says Trump administration's lack of facts on COVID "very likely" cost lives.
  2. Politics: Biden unveils "wartime" COVID strategyBiden's COVID-19 bubble.
  3. Vaccine: Florida requiring proof of residency to get vaccine — CDC extends interval between vaccine doses for exceptional cases.
  4. World: Hong Kong to put tens of thousands on lockdown as cases surge.
  5. Sports: 2021 Tokyo Olympics hang in the balance.
  6. 🎧 Podcast: Carbon Health's CEO on unsticking the vaccine bottleneck.

Trump impeachment trial to start week of Feb. 8, Schumer says

Senate Majority Leader Chuck Schumer. Photo: The Washington Post via Getty

The Senate will begin former President Trump's impeachment trial the week of Feb. 8, Majority Leader Chuck Schumer announced Friday on the Senate floor.

The state of play: Schumer announced the schedule after reaching an agreement with Republicans. The House will transmit the article of impeachment against the former president late Monday.

4 hours ago - Health

CDC extends interval between COVID vaccine doses for exceptional cases

Photo: Joseph Prezioso/AFP via Getty

Patients can space out the two doses of the coronavirus vaccine by up to six weeks if it’s "not feasible" to follow the shorter recommended window, according to updated guidance from the Centers for Disease and Control and Prevention.

Driving the news: With the prospect of vaccine shortages and a low likelihood that supply will expand before April, the latest changes could provide a path to vaccinate more Americans — a top priority for President Biden.

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