Business, Investments

Ridesharing Startup Lyft Raises another $150M

American ridesharing mobile app service ‘Lyft’ has raised additional $150 million funds to its march funding round of $530 million. A $100 million out of the $150 million come from american businessman Carl Icahn’s Icahn Enterprises.

The newly acquired funding raised the total finance raised by Lyft since it’s inception to $1 billion, as it had raised $850 million until march. The deal also sees Icahn Managing Director, Jonathan Chistodoro joining Lyft’s board of directors.

Regarding the investment Icahn explained to  to WSJ, “We are very happy to be investing in Lyft. I believe that ridesharing is poised to become a fundamental component of our transportation infrastructure. The Company’s revenue growth to date has been extremely compelling, and increasing urbanization over the next 5 to 10 years should enable the Company to maintain that trajectory. Additionally, I’ve 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”

The company was launched in 2012 and currently operates in 65 cities of america. Lyft believes, its USP is friendly drivers and easy ridesharing process.

The company aims to go global in recent future with the funds and already sees global giant Uber as its prime competitor in the coming years. Along with competitors in ridesharing segment such as, french company BlaBlaCar raised $100 million last year and is venturing in other international markets, also Chinese company ‘Tiantian’ raised an undisclosed amount of funding this year and Rocket internet backed ‘Tripda’ is entering markets in different continents since last year.

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