Latest Rakuten-led funding values Lyft at $2.5 billion

(Reuters) - Ride-sharing service Lyft said it raised an additional $530 million in a funding round led by Japanese online retailer Rakuten Inc, giving the Uber rival a valuation of $2.5 billion and adding momentum to its expansion plans. Rakuten said it is investing $300 million for an 11.9 percent stake in San Francisco-based Lyft - its first investment in a ride-hailing firm. Fortress Investment Group will also be a new investor.

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