Tesla Raises Money, Drones Get Certified, and More Car News This Week

Sometimes going back to the drawing board ain’t so bad. This week, Tesla shares took a much-needed hop as the company announced an effort to raise a small mountain of capital to keep the electric carmaker climbing. At first, the offering sat around $2.3 billion, but the company pushed it up to $2.7 billion amid investor enthusiasm. Drone companies, meanwhile, got hyped for the future, as a new certification from the FAA presented new opportunities—and new questions about how the government will regulate the autonomous flying delivery bots. Other times, the drawing board is less than great. Lyft will have to rethink its strategy in New York City, one of its largest markets, after a judge denied its petition objecting …

Lyft pulls ahead of Uber in race to IPO

Lyft is the first ride-hailing app to file to go public.Image: Lyft Lyft filed for a $100 million initial public offering on Friday. In its filing with the U.S. Securities and Exchange Commission, Lyft released its financial history for the first time. With the public disclosure, we now know that for the past three years Lyft has been losing money … a lot of money.  SEE ALSO: Lyft rolls out its own version of Uber Express Pool called ‘Shared Saver’ Lyft pulled in revenue of $2.2 billion in 2018, but also recorded a net loss of more than $911 million. It lost nearly $700 million during the previous two years.  Much bigger competitor Uber is expected to file for its …

Lyft’s ‘Shared Saver’ is just like Uber Express Pool

Pile in for a crowded ride.Image: Lyft If you’re willing to walk a few blocks, you could save money on your next ride. On Wednesday, Lyft rolled out its version of Uber Express Pool: Shared Saver. Think of it as an on-demand mini-bus. The app gives you walking directions to meet a driver already carrying or on their way to pick up other passengers. After being dropped off, you might also have to walk a few blocks to your destination.  Wait for the app to tell you how far you’ll be walking. Image: LYFt Uber’s version of the feature launched nationwide a year ago, so the concept isn’t entirely new, especially for people who flip between the two apps. (Now …