Alwaleed discusses investment in Lyft with its founders

RIYADH — Prince Alwaleed Bin Talal, Chairman of Kingdom Holding Company (KHC), met with Logan Green, Co-founder and CEO of Lyft and John Zimmer, co-founder and president of Lyft, at the company’s headquarters during the Prince visit to San Francisco. The meeting was attended by Sarmad Zok, Member of KHC’s Board of Directors and Chairman and CEO of Kingdom Hotel Investments (KHI); Shadi Sanbar, Senior Financial Advisor and Non-Executive member of the Board of Directors of KHC; Hassna Alturki, Executive Manager for International Relations to the Chairman; Hani Agha, Head of Travel and External Affairs Department; Fahad Bin Nafel, Senior Executive Assistant to the Chairman; and Naief Alzuhair, Website & Social Media Manager. During the meeting, they discussed Alwaleed and Kingdom Holding’s investment in Lyft that was announced in December 2015. The latest technical, financial and organizational developments in Lyft were also discussed. In 2015, KHC and Alwaleed lead a group of investors that invested in Lyft. Kingdom Holding and Alwaleed’s combined investment represents approximately a 5.3% stake in Lyft, on a converted basis. KHC has used company's existing available liquidity, KHC statement said Sunday. — SG