Uber rivals smell blood and raise $1.7 billion in fresh funds

ANALYSIS: Lyft, Uber’s main rival in its domestic U.S. market, announced a gargantuan $1 billion funding round yesterday, led by Alphabet’s CapitalG. This takes Lyft’s total funding to more than $3.5 billion. Today, Uber’s dominant Southeast Asian counterpart, Grab, announced a fresh $700 million cash injection (in debt financing), taking the Singaporean company’s total funding past the $4 billion mark.
These two mammoth funding rounds come as Uber fights