Recently, news has swirled around Lyft and specifically its partner, General Motors. GM most recently made a sizeable $500 million investment into the ride-sharing service, but it’s reported it almost went much further.
According to The Drive, Lyft was shopping itself around extensively to find a buyer. Those buyers included rival Uber, General Motors and even Apple. Talks reportedly went furthest with GM, but it seems Lyft’s asking price was a tad far-fetched.
The report states GM was eying up a $5.5 billion buyout price, but Lyft was seeking somewhere in the ballpark of $9 billion.
Still, the option will likely stay on the table. Lyft has yet to turn a profit and continues to burn through $50 million of investments every month. GM sees a twinkle in its ride-sharing eyes, though, as it works to bring autonomous vehicles to the Lyft fleet sooner rather than later.
Comment
Lyft seems to be getting out-maneuvered and out-classed by Uber every turn it makes. Uber expands faster, has stricter requirements with condition and cleanliness of cars, on average is cheaper, and has better marketing.
Hope Lyft can survive long enough to remain a competitor of Uber.