Ride-hailing firm Lyft announced last week that it had raised an additional $150 million, led by an investment of $100 million from Ichan Enterprises, the diversified holding company controlled by Carl Icahn.
As part of the Icahn investment, Jonathan Christodoro, one of Icahn’s managing directors, will join the Lyft board of directors.
Lyft President John Zimmer said Icahn’s record as an investor is unparalleled, and that his recent technology investments stem from a focus on companies that provide incredible long-term value to their customers, such as Apple, Netflix and eBay/PayPal.
“We’re thrilled to partner with Icahn during this exciting period in Lyft’s growth as we work to rebuild the U.S. transportation infrastructure and reconnect local communities,” Zimmer said. “With this additional investment, we remain focused on deepening our U.S. footprint, continuing to lead with product innovation, and providing the best possible experience for drivers and passengers.”
Icahn said ride-hailing is poised to become a fundamental part of the transportation infrastructure.
“Lyft’s revenue growth has been extremely compelling, and increasing urbanization over the next five to 10 years should enable the company to maintain that trajectory,” Icahn said. “I also have been very impressed with Lyft’s founders and management team, and I believe they are well-suited to take advantage of this opportunity and to make Lyft an extremely successful company.”
