Carl Icahn makes $100M investment in Uber rival Lyft
The privately held Lyft says it brought in $150 million in the new round of fundraising.
Activist investor Carl Icahn speaks at the World Business Forum in New York. Genzyme Corp., in 2010.
Mark Lennihan/AP
NEW YORK
Billionaire activist investor Carl Icahn is investing $100 million in on-demand ride sharing service Lyft.
Jonathan Christodoro, a managing director of Icahn Enterprises, will join the San Francisco company's board of directors. Lyftdidn't comment on any other terms in the investment.
Icahn is well known for tangling with the boards of companies like Apple, Yahoo, Hertz, Gannett and eBay, rather than investing in startups.
The privately held Lyft says it brought in $150 million in the new round of fundraising.
Lyft was launched in 2012. Users download its app and use it to request a ride from a nearby driver, and they can also use the app to pay for their rides. The company's last round of fundraising valued it at $2.5 billion.