Lyft's expansion and further price cuts come just weeks after the company announced that it closed $250 million in new funding from new investors that include hedge fund Coatue Management, Chinese e-commerce giant Alibaba, and Daniel Loeb's Third Point, as well as existing investors Andreessen Horowitz, Founders Fund, and Mayfield Ventures. With that round, the company has raised more than $330 million in outside funding since it began as carpooling startup Zimride in 2007.