Here’s who just grabbed a $100 million stake in Uber’s rival Lyft

Fortune

Activist investor Carl Icahn sees a big opportunity in Uber’s main competitor Lyft.

He just pumped $100 million into the lesser-known ride-sharing startup, according to The Wall Street Journal. A managing director from Icahn Enterprises will join Lyft’s board of directors. The company raised an additional $50 million from anonymous sources, the Journal said.

Icahn told the paper that investing in Lyft was a “no-brainer,” given that it’s being valued at just $2.5 billion compared to Uber’s $41 billion.

Icahn appears to be trying to cash in on the difference between the two companies, or to start a fight with Uber. Yet he appears unfazed: “If you look at the way the market evaluates Uber and then look at the valuation of Lyft—Lyft is a tremendous bargain,” Icahn said in an interview. “There is room for two.”
[fortune-brightcove videoid=4226134184001]

Lyft president John Zimmer told the newspaper that Icahn’s new…

View original post 178 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: