Dec 5, 2017 - Technology

Uber investor Fidelity backs rival Lyft

Fidelity, one of the most prominent mutual funds that's been backing well-known tech "unicorns," has participated in Lyft's $500 million extension of its newest financing round, according to an announcement by the ride-hailing company.

Awkward: Fidelity is the latest addition to a small list of investors that have backed both Uber and Lyft. Others include Troy Carter and Alphabet (via separate investment arms). But making things even more awkward is that Fidelity was among the group of investors that pushed Uber co-founder Travis Kalanick to resign in June.

Go deeper: Check out the complex web of relationships in ride-hailing and self-driving car companies.

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