Here’s who’s getting rich from Lyft’s enormous IPO

David Lawee, who previously did mergers and acquisitions for Google, is the big-cheese partner for CapitalG, the growth-stage investment arm of Google’s parent company, Alphabet.

He led a massive $1 billion round for Lyft in 2017 for CapitalG, just a few months after Lyft’s previous $600 million raise.

The investment was widely interpreted as Google’s effort to switch horses in the ride-hailing race. Google had, years earlier, invested in Uber, but Google and Uber had locked horns competing over self-driving cars.

Twenty-five other investors piled in, bringing the total raised in the round to $1.7 billion.

CapitalG has nearly 12.6 million shares of Lyft, or a 5.23% stake.

Read More

from Viral Spicy News https://ift.tt/2NBooGv