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Lyft assembles massive funding round to take on Uber


Documents filed last week reveal that ridesharing service Lyft has started work on a $150 million round of funding, amassing $80 million of it so far from big names including Andreesen Horowitz. Though Uber has unquestionably grabbed the top slot in the burgeoning car dispatch industry, Lyfts pink mustaches — attached to the front of drivers cars — have grabbed enough attention in many big cities to become well-known. Uber competes directly with Lyft through its UberX service, which employs private drivers with their own cars to effectively serve as cabs at a lower rate.

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