TL;DR - Uber is a lot bigger than Lyft but each has both substantiation investors backing them. Both have gone through multiple rounds of funding valued at billions of dollars.
Helpfulness - 4
Tags - outside capital, startup financing, raising capital, venture capital, VC
- What does the VC funding look like for Uber and Lyft?
- Although Lyft is still a minnow in the ridesharing business compared to Uber, that hasn't stopped venture capitalists and other investment entities from throwing money at both companies.
- Uber was founded about five years ago with a killer app concept
- The concept caught on with the Silicon Valley venture capital crowd; by summer 2015, its total funding reached $10 billion.
- Google Ventures plunged over $250 million into Uber
- Biggest investors also include blue-chip Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers, Fidelity Investments, Jeff Bezos of Amazon, Goldman Sachs, Blackrock, Lone Pine Capital, and dozens of other venture capital firms, hedge funds and private billionaires.
- a monstrously successful initial public offering (IPO) valued at $70 billion or more.
- In June 2015, Uber's operating loss was revealed to be a staggering $470 million.
- Marc Andreessen, founder of Netscape, has a fractious history of public feuds with Icahn, but he poured $60 million into Lyft
- In early 2015, Lyft also raised over $500 million in funding from a Japanese venture capital firm.
- Lyft, lost $127 million during the operational war, although it continues to aggressively raise capital,