Daily Tech Snippet: Wednesday, June 29

• Lyft Tells Investors to Expect No Growth in Rides for June: Lyft Inc. may be hitting a wall in its war with its richer competitor. Lyft told investors in a recent memo obtained by Bloomberg that it expects the number of rides it handles to be flat or down in June, compared with May. That follows a record month for rides in May. Lyft expects to beat its target for second-quarter ride volume by 35 percent, Lyft told its investors. "This implies June will be flat to slightly down from the record May level given we face traditional seasonality headwinds in June as most college students leave their campuses for the summer," the note said. "Additionally, June represents the first full month without Austin, after pausing operations in the city in May." (Uber and Lyft pulled out of Austin, Texas, after the city passed legislation that would require them to conduct fingerprinted background checks on their drivers.)  One Lyft investor told Bloomberg that, given the company’s heavy losses, if Lyft could sell itself for $5.5 billion -- the value of the company at its latest valuation -- that would be an acceptable price. Qatalyst could also help the startup sell a stake, rather than the whole business. The company also said in the memo that it reached a nearly $1.9 billion annual revenue run rate based on its performance in May. In November, it touted a $1 billion run rate. Revenue run rates apply monthly figures to a 12-month period. Investors use them to gauge the potential for growing businesses.While Lyft expects to lose hundreds of millions this year, Uber has lost money on a much larger scale. In three quarters last year Uber lost $1.7 billion. The company has committed to spending billions in China and India, and Uber has continued to subsidize rides against its global competitors like Didi Chuxing and Ola. Like Lyft, as a private company, Uber’s financials are private.

• Airbnb’s new funding round makes it the second-most valuable startup in the United States: Last year, Airbnb raised $1.5 billion at a $25.5 billion valuation. Earlier this month, the companyraised $1 billion in debt financing. And now, sources close to the company tell Recode, Airbnb is currently raising an undisclosed amount of cash at a $30 billion valuation. Such a deal would make Airbnb the second-most valuable startup in the United States, trailing only the $62.5 billion Uber. The New York Times first reporteddetails of Airbnb’s latest round. With all the new money, Airbnb plans to grow its global operation. Bloomberg has previously reported that the company plans to add booking features later this year for things beyond short-term home rentals (think museums, restaurants, etc.). In the meantime, Airbnb is being kept busy on the legal front. Earlier this week the company filed suit against the city of San Francisco for imposing stiff penalties on home rental registration rules that Airbnb helped write. The company is also locked in a battle with the New York government, where state legislatorsrecently passed a bill that would further restrict the company’s listings.

• Amazon Expands Items on Dash Buttons as Order Rate Doubles: Amazon.com Inc. has added more than 50 new brands to its Dash Button service for instantly reordering everyday items, citing a doubling in the frequency of orders over the last three months. After introducing the WiFi-connected plastic tabsthat can be mounted to the fridge, washing machine or kitchen cupboard in 2015, the online retailing giant has steadily increased the number of brands available for replenishment to more than 150, Amazon said in a statement Thursday. Amazon also expanded its product categories to include toys, such as Play-Doh and NERF darts and added new items like Campbell’s Soup and Cascade dishwashing soap. Members of Amazon Prime, which offers free two-day delivery on many items, are placing orders at a pace of more than twice a minute, Amazon said, up from once a minute three months ago. Total orders increased more than 70 percent in the last three months.