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.

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Updated 18 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: The swing states where the pandemic is raging — Pence no longer expected to attend Barrett confirmation vote after COVID exposure.
  2. Health: 13 states set single-day case records last week
  3. Business: Where stimulus is needed most.
  4. Education: The dangerous instability of school re-openings.
  5. States: Nearly two dozen Minnesota COVID cases traced to 3 Trump campaign events
  6. World: Restrictions grow across Europe.
  7. Media: Fox News president and several hosts advised to quarantine.

Republicans and Dems react to Coney Barrett's Supreme Court confirmation

President Trump stands with Judge Amy Coney Barrett after she took the constitutional oath to serve as a Supreme Court justice during a White House ceremony Monday night .Photo: Tasos Katopodis/Getty Images)

President Trump said Judge Amy Coney Barrett's Senate confirmation to the Supreme Court and her subsequent taking of the constitutional oath Monday was a "momentous day," as she she vowed to serve "without any fear or favour."

  • But as Republicans applauded the third conservative justice in four years, many Democrats including Speaker Nancy Pelosi (Calif.) warned of consequences to the rush to replace the late Justice Ruth Bader Ginsburg ahead of the Nov. 3 election, with progressives leading calls to expand the court.
Ina Fried, author of Login
1 hour ago - Science

CRISPR pioneer: "Science is on the ballot" in 2020

Photo: "Axios on HBO"

In her three decades in science, Jennifer Doudna said she has seen a gradual erosion of trust in the profession, but the recent Nobel Prize winner told "Axios on HBO" that the institution itself has been under assault from the current administration.

  • "I think science is on the ballot," Doudna said in the interview.

Why it matters: That has manifested itself in everything from how the federal government approaches climate change to the pandemic.

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