Hogan Lovells Represents Kingdom Holding Company in Lyft Investment
07 January 2016
WASHINGTON, 7 January 2016 – Hogan Lovells represented HRH Prince Alwaleed and Kingdom Holding Company in a US$247.7 million investment in Lyft, Inc.
The transaction included a US$100 million investment in the company’s US$1 billion Series F round and the purchase of US$147 million worth of shares from three existing investors. The investment will aid Lyft’s long-term plan to develop an on-demand network of self-driving cars.
Lyft is a privately held U.S. transportation network company based in San Francisco. The company's mobile-phone application facilitates peer-to-peer ridesharing by connecting passengers who need a ride with drivers who have a car. The Series F investments raised Lyft’s valuation to US $5.5 billion
The Hogan Lovells team who worked on this transaction includes Mark Mazo, Ejim Achi, Nancy O’Neil, Merry Anderson, Tyler Kirtley, Meryl Bernstein, Thomas Hsieh, Laura Szarmach, Allison Netto, Tabisa Lane, Jason Georges, and Leyla Gungor.