Ride-sharing company Juno in its biggest fundraising round yet: source

Juno Inc, a startup looking to attract drivers from bigger ride-sharing rivals such as Uber Technologies Inc by offering them its own stock, is seeking $50 million in its biggest fundraising round to date, according to a person familiar with the matter. Investors have poured more than $28 billion into the ride services sector over the past decade, propelling growth at Uber, Lyft Inc, China’s Didi Chuxing Technology Co and a host of smaller upstarts, such as Gett. Economists have said there may be scope for even more competition, because ride-sharing services are relatively cheap to start, depend on contract labor with no inherent loyalty or specialized skills, and have free apps that can be downloaded in seconds.

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