Tuesday, June 28, 2016

Report: Lyft Seeks Buyer or Investor, Hires Qatalyst

San Francisco-based ridesharing service Lyft, which has been in a funding arms race with rival Uber, has hired boutique investment banking firm Qatalyst Partners to either find it a strategic investor or buyer, according to a report on Monday. The WSJ said that Qatalyst has been contacting large auto makers and other companies about a taking a stake in Lyft. Lyft has not detailed any of its plans. Lyft already has received a big injection from auto makers, having received a gigantic $1 billion round in January, which involved $500M from GM, and investments from Didi Kuaidi and Alibaba, among others.