Lyft board member and early investor makes $1 million inventory buy

“I made a great investment in Lyft as the first investor with Logan Green and John Zimmer as they founded and scaled the business,” Aggarwal mentioned in an announcement offered to MarketWatch. “With David Risher now in the driver’s seat, I am doubling down and view this as another great investment opportunity.”

He holds his lately bought shares in a belief shared together with his partner that at the moment owns about 971,000 Lyft shares. Aggarwal additionally studies two separate trusts that maintain 283,000 and 200,000 shares, respectively. He additional owns simply over 59,700 shares instantly, although a few of these are restricted inventory models.

Aggarwal follows Risher, who paid $1.15 million to purchase up Lyft shares in mid-August. “Seeing this team in action shows me it’s the best investment I could make,” Risher mentioned on the time.

Board member Dave Stephenson, who serves because the chief monetary officer of Airbnb Inc.
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+4.83%,
paid $100,000 to buy Lyft inventory as nicely in mid-August.

The insider purchases at Lyft distinction with a $4.5 million inventory sale by Nelson Chai, the outgoing chief monetary officer of Uber Technologies Inc.
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which was disclosed final week.

See extra: Uber’s outgoing CFO dumps $4.5 million in inventory

Opinion: A ride-share worth battle is brewing, and it may imply unhealthy news for Lyft

Uber shares have vastly outperformed Lyft shares to date this yr, and Uber’s inventory trades above its IPO worth of $45 — albeit barely. Lyft shares, in the meantime, are down 85% from their $72 IPO worth.