Lyft gets $1 billion investment and ridesharing is about 0.5% of car miles in USA

CapitalG — Alphabet’s [Google] growth investment fund — is leading a $1 billion financing round in Lyft. This brings Lyft’s post-money valuation to $11 billion.

2017 has been an important year for the Lyft community. Earlier this month, Lyft completed thei 500 millionth ride and our service is now available to 95% of the U.S. population — up from 54% at the beginning of the year.

While we’ve made progress towards our vision, we’re most excited about what lies ahead. The fact remains that less than 0.5% of miles traveled in the U.S. happen on rideshare networks. This creates a huge opportunity to best serve our cities’ economic, environmental, and social futures.