Lyft gets funding, gears up to compete with Uber

Lyft, a tech company that allows people hail cabs through their innovative app, has received another round of funding for its expansion drive.

The company is seen as Uber’s major competitor. Uber is a tech company that also connects drivers with riders.

This latest funding of $100m is coming from billionaire angel investor, Carl Icahn. Icahn is known for his  investment stakes in tech companies like Apple, Yahoo, Netflix, Hertz, Gannett and eBay.

Lyft says it is dominant in 58 countries, with an income of over  $40 billion.