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Saudi Prince invests in Lyft, lifting value of the company to $5 billion
Saudi billionaire Prince al-Waleed bin Talal has invested in ride-sharing service Lyft, valuing the company at near $5 billion. The Prince's holding company will pay $105 million for a 2.3 percent stake. Even at a large $5 billion valuation, the ridesharing app has just a fraction of the value and drivers of market leader Uber, who has expanded around the globe. Al-Waleed is not the first international investor for Lyft, which is U.S.-only currently. Chinese ride-sharing service Didi Kuaidi has also invested and so have smaller local companies around the globe. By comparison, Uber has a market value of around $65 billion, making it one of the largest private companies on the planet. Source: WSJ
