Carl Icahn: “Lyft Is Worth A Lot More Than $2 Billion”

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Posted 2 years ago

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Lyft Adds Personalization FeatureThe billionaire investor with an activist’s spirit, Carl Icahn is betting that the on-demand car service industry could use a bit of a jolt.

This much was certain after news broke of his $100 million dollar investment in Lyft recently.

Lyft has gained prominence thanks to its highly courteous drivers and a whimsical appeal embodied in a giant pink mustache that used to be on the front of its cars, but now reside on the dashboard in a more reasonable size.

It still is locked in a tight battle with Uber, who is the current industry standard bearer.

Icahn’s investment, valued to possibly add to the $2.5 billion valuation of Lyft, falls in line with his own recent position that views ride-sharing as the future in a fast-growing global marketplace.

In remarks made to reporters with the Wall Street Journal, he viewed the investment thusly: “if you look at the way the market evaluates Uber and then look at the valuation of Lyft — Lyft is a tremendous bargain. There is room for two.”

The news comes after Lyft raised $350 million dollars in investments from Japanese e-commerce company Rakuten, Inc.

Icahn’s association with Lyft is yet another prime chess move in a shifting industry that is seeing both Uber and Lyft evolve beyond ridesharing into retail delivery services.

Christopher A. Smith

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