*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)
President Donald Trump has fired one of two Democratic members of the U.S. Surface Transportation Board to break a 2-2 tie ahead of the board considering the largest railroad merger ever proposed.
Ford is recalling more than 355,000 of its pickup trucks across the U.S. because of an instrument panel display failure that’s resulted in critical information, like warning lights and vehicle speed, not showing up on the dashboard.
Nvidia reported a 56% increase in second-quarter revenue and a 59% rise in net income compared to a year ago.
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
President Donald Trump's administration last month awarded a $1.2 billion contract to build and operate what's expected to become the nation’s largest immigration detention complex to a tiny Virginia firm with no experience running correction facilities.
Netflix CEO Ted Sarandos claims audiences don't want to watch Netflix movies in theaters, but that seems not to be the case recently.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
