Welcome to this week’s Private Markets Express, a digest of small pieces of private equity news and knowledge gathered for your reading pleasure.
Lyft is coming to Canada! The ride-share competitor to Uber announced this Monday that it will launch its service in Toronto. They didn’t give an exact launch date but they do hint it may be in time for the holiday season. This is the company’s first international expansion. Lyft had hired an initial public offering advisory firm in September, and most recently, raised $1 billion in October.
Uber’s former CEO Travis Kalanick has resolved outstanding disagreements with Benchmark, a large shareholder of Uber, paving the way for Japanese conglomerate SoftBank to invest as much as $10 billion in the ride-share company. Final details still need to be confirmed but Uber announced Sunday that the agreement has been signed.
*Article taken from the Financial Times. If you cannot view the article, send us an email and we will send you a pdf.
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