Lance Armstrong says his investment in Uber ‘saved our family’

Lance Armstrong told CNBC on Thursday that his investment in the ride-hailing company Uber saved his family.

Armstrong was an early investor in Uber after dropping in $100,000 in a venture capital firm around 2009, which then invested the bulk of those funds into the ride-hailing company, according to CNBC.

{mosads}”It’s saved our family,” Armstrong told CNBC. The cyclist did not reveal how much his investment had grown, saying only the number is “too good to be true.”

Uber was then valued at $3.7 million but is now valued by banks around $120 billion, according to CNBC estimates.

Armstrong was forced to pay millions in settlements and give up endorsements after he was found to have doped when he was an athlete. 

Uber and Lyft are in tight competition with one another and racing to beat each other in going public next year.

Lyft pulled ahead slightly Thursday when it confidentially filed for an initial public offering (IPO) with the Securities and Exchange Commission. 

The banks working with Lyft have valued the company from $18 billion to $30 billion.