Saturday, December 26, 2015

Billionaire Saudi Prince is Buying a Piece of Lyft for $105 Million

Saudi billionaire Prince Alwaleed bin Talal, who recently tussled with Donald Trump via Twitter, is investing $105 million in Uber competitor Lyft.

The cash infusion comes via the Prince's firm Kingdom Holding Company. The investment will amount to a 2.3% stake.

Uber currently has a $64.6 billion valuation, based on its latest round of funding, while Lyft lands at an estimated $4.9 billion valuation after the new investment.


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