With Lyft making its Wall Street debut, WSJ's Lee Hawkins outlines the three biggest challenges the ride-hailing service will face in the next 12 months. Photo: AP: ReutersBillionaire investor Carl Icahn sold his roughly 2.7% stake in Lyft Inc. ahead of the ride-hailing company’s initial public offering last week, according to people familiar with the matter. Jonathan Christodoro, a former Icahn Capital LP managing director who sat on Lyft’s board until last month, connected Mr. Icahn with the buyer of the stake worth roughly $550 million at the IPO price, some of the people said. The buyer’s identity couldn’t be learned.

Source: Wall Street Journal April 03, 2019 18:35 UTC