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Report: Lyft hires a banking firm famous for acquisitions

The Wall Street Journal‘s Douglas MacMillan reports that Lyft, the biggest name in on-demand car services after Uber, has hired investment bank Qatalyst Partners. That might just mean that Lyft is looking for a big funding round, which wouldn’t be a shocker: It’s already done deals such as the one that involved GM putting up $500 … Continue reading “Report: Lyft hires a banking firm famous for acquisitions”

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The Wall Street Journal‘s Douglas MacMillan reports that Lyft, the biggest name in on-demand car services after Uber, has hired investment bank Qatalyst Partners. That might just mean that Lyft is looking for a big funding round, which wouldn’t be a shocker: It’s already done deals such as the one that involved GM putting up $500 million for a 10% stake in the startup.

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But Qatalyst is well-known for brokering acquisitions, and the most intriguing scenario would involve someone buying Lyft outright. (As MacMillan points out, GM is one ultra-obvious candidate.)

Even as mere speculation or flirtation, the idea of Lyft exiting the startup-versus-startup ride-sharing war with Uber is a doozy.  Whatever happens, my colleague Rick Tezeli’s Lyft profile from earlier this year makes for good background reading.

About the author

Harry McCracken is the technology editor for Fast Company, based in San Francisco. In past lives, he was editor at large for Time magazine, founder and editor of Technologizer, and editor of PC World.

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