>Lyft raised $530 million in a funding round earlier this year led by Japanese e-commerce firm Rakuten. Mr. Icahn’s investment is the largest portion of a $150

>Lyft raised $530 million in a funding round earlier this year led by Japanese e-commerce firm Rakuten. Mr. Icahn’s investment is the largest portion of a $150 million extension to that round at the same valuation, the company said >The money is an extension of a round of funding Lyft announced in March that values the three-year-old company at $2.5 billion. Doing back of the envelope math, Lyft is valued at $1.97B premoney. This $680MM round gives the new investors 25.6% of the company. Uber raises even bigger rounds while giving away much smaller fractions of the company each time. Fascinating to see how market position dictates these terms in such dramatic ways.