Lyft Raises Additional $150 Million, Led by $100 Million Investment from Icahn Enterprises

May 15, 2015, 10:00 ET from Lyft, Inc.

SAN FRANCISCO, May 15, 2015 /PRNewswire/ -- Lyft, Inc. ("Lyft") today announced that it has raised an additional $150 million, led by an investment of $100 million from Icahn Enterprises L.P. ("Icahn"), the diversified holding company controlled by Carl C. Icahn. As part of the investment, one of Icahn's Managing Directors, Jonathan Christodoro, will join Lyft's Board of Directors.

John Zimmer, President of Lyft, said: "Carl Icahn's record as an investor is unparalleled. His recent success investing in the technology sector stems from a focus on companies that deliver incredible long-term value to their customers, such as Apple, Netflix and eBay/PayPal. We're thrilled to partner with Carl during this exciting period in Lyft's growth as we work to rebuild the U.S. transportation infrastructure and reconnect local communities. 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."

Mr. Icahn said: "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."

SOURCE Lyft, Inc.