Lyft Raises $1 Billion, Half From GM

Rideshare service Lyft has closed $1 billion in funding, including $500 million from General Motors. GM also will supply vehicles for short-term use by Lyft drivers via rental hubs across the United States. Longer term, GM will work with Lyft to develop an on-demand network of self-driving cars. Other investors in Lyft’s latest round of funding include Kingdom Holding, Janus Capital Management and Chinese e-commerce company Alibaba.