Kakao invests 3.4 billion won in ride-hailing app Lyft

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Kakao invests 3.4 billion won in ride-hailing app Lyft

Kakao Investment said Wednesday it bought shares worth 3.4 billion won ($3.18 million) in U.S. ride-hailing service provider Lyft. Following the move, the investment arm of Korea’s largest messaging app holds 82,755 shares, or a 0.03 percent stake in the U.S. company.

Lyft provides ride-hailing services through smartphones and is one of Uber’s competitors.


Yonhap

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