Ride - hailing service Lyft has raised $ 600 m , valuing the company at $ 7.5bn , in a round that included KKR , Alliance Bernstein and Baillie Gifford . " We have big growth on the horizon , and will continue investing in new technology and hospitality " , Lyft said in a statement . Losses will be reduced this year and it will make a profit in 2017 , the company said . " Uber , which may be valued at as much as $ 70bn , has been the subject of law suits and social media boycotts this year .
Ride-hailing service Lyft has raised $600m, valuing the company at $7.5bn, in a round that included KKR, Alliance Bernstein and Baillie Gifford. "We have big plans on the horizon, and will continue investing in new technology and hospitality", Lyft said in a statement. Losses will be reduced this year and it will make a profit in 2018, the company said. Rival Uber, which may be valued at as much as $70bn, has been the subject of law suits and social media boycotts this year.