Rideshare platform Uber is looking to raise $2.1 billion. Uber is the most valuable private technology company on paper, at a current $50 billion valuation. The additional funding would bring those figures up to $62.5 billion in value, according to a Bloomberg report.
Compare that to Uber’s U.S. rival Lyft, rumored to be raising half a billion at a $4 billion valuation. Lyft is aggressively spending to compete with it’s older rival, according to financials obtained by Bloomberg. Lyft lost $127 million in the first half of 2015, with a revenue of $46.7 million, according to the report.Lyft disputes those numbers and says it has reached a gross revenue run rate of $1 billion. According to Bloomberg, Uber is telling investors it has a revenue run rate of $10 billion globally.
Both rideshare platforms have a starkly different global expansion approach. Uber endeavors to push into each market as a separate entity, whereas Lyft has announced several global partnerships with ridesharing platforms Didi Kuaidi, Ola and Grab Taxi.