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Lyft Raises $150 Million From Carl Icahn and Others

Come on in, Carl!

Lyft

Lyft, Uber’s smaller rival in the on-demand ride-hailing space, has added $150 million more in funding to its coffers, including an infusion from activist investor Carl Icahn.

In an unusual move, Icahn, who has forged a career in scaring off CEOs by building big positions in public companies and forcing change, was invited by Lyft to invest $100 million in the privately held company.

The rest of the funding, $50 million, came from undisclosed investors. The current investment is an extension of an earlier round of financing that valued Lyft at $2.5 billion.

In terms of funding, Lyft is dwarfed by Uber. In the last week alone there were multiple reports that Uber was working on raising $1.5 to $2 billion more in investment. If it succeeds, that puts its total investment at more than $7 billion compared to Lyft’s roughly $1 billion in funding, according to data from startup analytics company Mattermark.

This article originally appeared on Recode.net.

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