May 15, 2015

Carl #Icahn Invests $100 Million in #Lyft - @NYTimes

At a valuation of $2.5 billion it's a bargain next to Uber at $50 billion!

Carl Icahn Invests $100 Million in Lyft -

For years, Travis Kalanick, chief executive of Uber, has been the loudest public voice on how ride-hailing start-ups will upend the transportation industry.

Now comes Carl C. Icahn.

Mr. Icahn, one of Wall Street’s most outspoken activist investors and aggressive tweeters, announced on Friday that he had invested $100 million in Lyft, the fast-growing ride-booking start-up and single largest competitor to Uber in the United States.

Along with an additional $50 million from other investors that Lyft did not disclose, the new investment is an extension of a $530 million round that the start-up raised in March, which values the San Francisco-based company at $2.5 billion.

“There’s room for two in this area,” Mr. Icahn said in a phone interview on Friday. “What I’m saying is there is a secular change going on with the way people are getting around, and with urbanization, it means more people living in urban areas.”

Read the rest of the story here: Carl Icahn Invests $100 Million in Lyft -

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