Prince Alwaleed bin Talal invested $ 247 million in the application for the transfer of participatory Lyft




Kingdom Holding Company announced, owned by Saudi Prince of Alwaleed Bin Talal, for an investment of 247 million US dollars in the application of Lyft transport Communion.

And paid Kingdom Holding initially 104.9 million US dollars, to get under which a share of 2.3% of the application, as part of the overall deal, which is estimated at 247.7 million US dollars, which will get under 5.3% of the company a market value estimated at 4.92 billion US dollars after a round of investment shares Last.

And works application Lyft transport participatory, based in the city of San Francisco, in the US states only, where private cars are available in compliance with the request at any time, and can be used one of the drivers accredited within the application for the ride with them if they were going to the same user destination.

And Kingdom Holding Company has investments in several technical projects including the Twitter social network, and Apple, as well as the American company AOL, and Motorola.

Alwaleed bin Talal does not invest in technology companies only, but always keen to participate and express his opinion Balaqrart fateful, in the month of June of this year expressed concern over the receipt of Jack Dorsey executive presidency of the company Twitter because of its obligations another job, where he said that Jack owned company Square Square that require a lot of attention and a full-time job.

Lyft competing application with the application of upper Uber which is valued at 64.4 billion US dollars, which works in different parts around the world, including in Egypt, Cairo, and Riyadh in Saudi Arabia.


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