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Lyft, the San Francisco-based ride-hailing company, is said to be raising at least $250 million, potentially valuing it at $2 billion.

If published reports are true, Lyft would have substantial resources at its disposal as it attempts to take on Uber, the biggest company in the space. Uber, however, is valued at about $40 billion, based on recent investment.

The New York Post wrote today that Lyft was looking to raise $500 million. The New York Times, meanwhile, pegged the number at $250 million. Both said that the investment would value Lyft at $2 billion. We’re hearing it’s closer to the $250 million figure.

A Lyft spokesperson had no comment when reached by VentureBeat.

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