Uber, Lyft In $500 Million Battle

WIRED points out that the big money is now in the ride-sharing game.

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    NEWSLETTERS

    TK
    Big money is now on both sides of the race to get you a ride that's not a taxi.

    Behind that pink mustache is a wad of cash -- cash to rival the backing of the sleek guy next door.

    Investors are taking great interest in which ride service you take home, with $250 million in new financing for Lyft announced just Wednesday.

    That matches the $250 million Uber received last summer, WIRED reported, and with both companies now on "more equal financial footing," the race is on to see whose business model can win.

    Lyft goes for a mix of "service" and community, WIRED reported, taking the idea of a "sharing economy" to an extreme. There's more flexibility and more "fun" -- and perhaps less of an idea of a sleek product than with Uber.

    What will work best? Whichever is faster and cheaper, in theory.