*By Jacqueline Corba*
Lyft just closed a massive new round of funding, effectively doubling its valuation in just one year to more than $15 billion.
Andrew Hawkins, Senior Transportation Reporter at The Verge, said this could signal that the ride-sharing start-up is looking to beat Uber in the race to go public.
"People should be keeping an eye on Lyft in the earlier half of 2019 to see what movements it makes to signal a public offering," Hawkins told Cheddar Wednesday.
Lyft had been thought to be on the IPO docket for this year, and was [reportedly close](https://www.reuters.com/article/us-lyft-ipo-exclusive/exclusive-lyft-close-to-selecting-ipo-adviser-sources-idUSKCN1C3114?utm_source=applenews) to selecting bankers for the offering as recently as September. While the departure of its former COO in November appeared to put those plans on hold, the company signed up a new operating chief earlier this year.
Meanwhile, Uber CEO Dara Khosrowshahi [said in May that his company is on track to go public in 2019.](https://www.cnbc.com/2018/05/30/uber-ceo-on-ipo-plans-and-warren-buffett.html)
Fidelity led Lyft's latest $600 million round, which also included hedge fund Senator Investment Group. It got another $200 million earlier this year and ended 2017 with a total of $1.5 billion from Google's venture arm CapitalG.
While the company's new valuation is still only a fraction of Uber's $69 billion total worth, Hawkins said Lyft was able to capitalize on its rival's struggles.
But the company itself said it would stay true to its core mission.
"We will double down on our values, and invest in the vision that cities should be built around people, not cars," Lyft said in a [blog post] (https://blog.lyft.com/posts/2018/6/27/lyft-raises-new-capital-and-continues-momentum) Wednesday. "We are committed to delivering the best possible experience for all members of the Lyft community."
For the full segment, [click here.](https://cheddar.com/videos/lyft-raises-massive-funding-round-doubles-valuation)
A rare magnum of Dom Pérignon Vintage 1961 champagne that was specially produced for the 1981 wedding of Prince Charles and Lady Diana has failed to sell during an auction. Danish auction house Bruun Rasmussen handled the bidding Thursday. The auction's house website lists the bottle as not sold. It was expected to fetch up to around $93,000. It is one of 12 bottles made to celebrate the royal wedding. Little was revealed about the seller. The auction house says the bids did not receive the desired minimum price.
The New York Times and President Donald Trump are fighting again. The news outlet said Wednesday it won't be deterred by Trump's “false and inflammatory language” from writing about the 79-year-old president's health. The Times has done a handful of stories on that topic recently, including an opinion column that said Trump is “starting to give President Joe Biden vibes.” In a Truth Social post, Trump said it might be treasonous for outlets like the Times to do “FAKE” reports about his health and "we should do something about it.” The Republican president already has a pending lawsuit against the newspaper for its past reports on his finances.
OpenAI has appointed Slack CEO Denise Dresser as its first chief of revenue. Dresser will oversee global revenue strategy and help businesses integrate AI into daily operations. OpenAI CEO Sam Altman recently emphasized improving ChatGPT, which now has over 800 million weekly users. Despite its success, OpenAI faces competition from companies like Google and concerns about profitability. The company earns money from premium ChatGPT subscriptions but hasn't ventured into advertising. Altman had recently announced delays in developing new products like AI agents and a personal assistant.
President Donald Trump says he will allow Nvidia to sell its H200 computer chip used in the development of artificial intelligence to “approved customers” in China. Trump said Monday on his social media site that he had informed China’s leader Xi Jinping and “President Xi responded positively!” There had been concerns about allowing advanced computer chips into China as it could help them to compete against the U.S. in building out AI capabilities. But there has also been a desire to develop the AI ecosystem with American companies such as chipmaker Nvidia.
U.S. sports betting is booming as NFL and college football fuel massive activity. BetMGM CEO Adam Greenblatt breaks down trends, growth, and what’s next.
President Donald Trump says a deal struck by Netflix last week to buy Warner Bros. Discovery “could be a problem” because of the size of the combined market share. The Republican president says he will be involved in the decision about whether federal regulators should approve the deal. Trump commented Sunday when he was asked about the deal as he walked the red carpet at the Kennedy Center Honors. The $72 billion deal would bring together two of the biggest players in television and film and potentially reshape the entertainment industry.
Disney's changes to a program for disabled visitors are facing challenges in federal court and through a shareholder proposal. The Disability Access Service program, which allows disabled visitors to skip long lines, was overhauled last year. Disney now mostly limits the program to those with developmental disabilities like autism who have difficulty waiting in lines. The changes have sparked criticism from some disability advocates. A shareholder proposal submitted by disability advocates calls for an independent review of Disney's disability policies. Disney plans to block this proposal, claiming it's misleading. It's the latest struggle by Disney to accommodate disabled visitors while stopping past abuses by some theme park guests.
