Billionaire Saudi Prince Alwaleed said he passed on investing in Uber because of the price [CNBC]
Churchill Capital Corp V Class A (CCV)
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Source: CNBC
show chapters Saudi Prince Alwaleed bin Talal told CNBC on Monday that the high price of a stake in Uber is part of what pushed him to back Lyft . We were in discussions with both Uber and Lyft, but when we evaluated both companies, we thought that Lyft is a better entry point for us. Because at that time, Uber's price was at a plateau of its highest height. So we invested in Lyft, and we have a very good relationship with .... the management, Alwaleed said in an interview on CNBC's Squawk Box . But Uber still is a great company, obviously, and Uber is the company that began with this whole idea of shared rides. Our choice was to go with Lyft but it doesn't mean that Uber is not good. Alwaleed , who runs Kingdom Holding, made his comments on the heels of a Wall Street Journal report that another Saudi fund, state-owned Public Investment Fund, was struggling to deal with a disappointing investment in Uber. Fahad Sha
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