*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)
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
About 780,000 pressure washers sold at retailers like Home Depot are being recalled across the U.S. and Canada, due to a projectile hazard that has resulted in fractures and other injuries among some consumers.
