Carl Icahn invests $100M in Uber rival Lyft
Ride-hailing service and Uber rival Lyft announced a new wave of funding worth $150 million, including $100 million from billionaire investor Carl Icahn.
One of Icahn's managing directors, Jonathan Christodoro, will join Lyft's board of directors as part of the investment, Lyft said in a statement Friday.
"Carl Icahn's record as an investor is unparalleled," said Lyft President John Zimmer in a statement. "His recent success investing in the technology sector stems from a focus on companies that deliver incredible long-term value to their customers."
In an interview with The Wall Street Journal, Icahn calls Lyft a "tremendous bargain" compared to the skyrocketing valuation for rival Uber, which some reports peg as high as $50 billion.
"We are very happy to be investing in Lyft," said Icahn in a separate statement Friday. "I believe that ridesharing is poised to become a fundamental component of our transportation infrastructure."
According to the WSJ, Lyft would be valued at $2.5 billion.
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