Weekly Update #127: Lyft raising $1 billion, and Congress takes action on pre-IPO transactions

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Weekly Update #127: Lyft raising $1 billion, and Congress takes action on pre-IPO transactions
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Hello Investors,
Lyft, the ride-hailing app, is looking to raise $1 billion in financing at a reported $4.8 billion post-money valuation. Given that the information is based off a regulatory filing, and the company has not confirmed the round, I'd guess that the company is still securing the full billion (but probably already has a lead investor or two). The money should boost Lyft's marketing artillery, as its global alliance with international companies Ola, GrabTaxi, and Didi (read: Lyft, Didi, Ola And GrabTaxi Partner In Global Tech, Service Alliance To Rival Uber) continues to capture market share.
Congress and Pre-IPO Trading (via the...... Highway Bill?)
Our own Shri Bhashyam recently guest-wrote on TechCrunch about the RAISE act, which was approved by Congress and signed into law by President Obama. Buried within the "Highway Bill" was a small portion that had nothing to do with highways, but huge implications for pre-IPO companies. Read about it here.
Lew Cirne, founder and CEO of the seven-year-old software analytics company New Relic, has a lot for which to be thankful. Near the very top of his list? The fact that New Relic went public a year ago, after raising roughly $214 million from investors.
Part two of a two-part series on investing in growth technology given concerns over late stage valuations.
On December 4, 2015 President Obama signed into law the FAST Act, which is mainly about transportation funding. Included within the FAST Act is a section, the Reforming Access for Investments in Startup Enterprises (“RAISE”) Act, which codifies a previously unwritten means through which startup employees, ex-employees, early investors, and other shareholders have been legally allowed to sell their shares.
Phil Haslett | Founder & Head of Investor Relations | EquityZen 
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