Is Lyft for Sale? Company Hires M&A Banker

The number 2 ride-hailing company in the US has hired a boutique investment bank that specializes in selling tech companies according to the Wall Street Journal. The company has apparently been in contact with large automakers to see if they want to invest in Lyft.  It’s currently unclear whether Lyft is looking to raise cash or be bought out. GM invested $500M in Lyft back in January and shared plans for an on-demand self-driving car initiative in conjunction with the app.

No comment from Lyft thus far…

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