Lyft is now worth $15.1 billion after a recent $600 million funding round, the Wall Street Journal reported Wednesday, citing the company.

That would make Lyft worth a quarter of rival Uber, which in May announced first quarter results and a tender offer that nudges its valuation past $60 billion. The ride-hailing rivals have been adding offers and services practically in tandem and raising money as they each race toward initial public offerings.

Uber CEO Dara Khosrowshahi told CNBC in a recent interview that Uber is on track to go public next year. Lyft’s timeline for an IPO is less certain, but people familiar with the plans told The New York Times in October a public listing could come sometime this year.

Lyft’s new funding round comes just six months after a $1.5 billion round and is being led by Fidelity Investments and Alphabet’s investment unit, CapitalG, WSJ reported. The company was most recently valued at $11.7 billion in May, according to Pitchbook.

Lyft was not immediately available for comment.

Read the WSJ article here.

Source: Tech CNBC
Lyft is now worth a reported .1 billion