Lyft raises $500M in latest round of venture capital funding

SAN FRANCISCO (KGO) -- Ride-hailing service Lyft has raised more than half a billion dollars in its latest round of venture capital funding.

That puts the value of the San Francisco-based company at $2.5 billion.

A Japanese online retailer led the latest investment in the company.

Lyft still has a way to go to catch up to its main competitor Uber, which has a valuation of $40 billion.

The figure makes Uber the biggest start-up in the United States.