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Lyft and Uber’s most recent drama, explained

Reports surfaced last week that Lyft had unsuccessfully sought a buyer, soliciting offers from General Motors, Apple, Google, Amazon, Uber, and Didi Chuxing. As news outlets hashed out the details over the weekend, Uber and Lyft put forth different stories.

On Saturday, Bloomberg reported that Uber wouldn’t pay more than $2 billion for its rival, whose investors last valued it at $5.5 billion. This was much less than the $9 billion Lyft had been seeking, according to Recode.

Lyft on Sunday then told The Verge that “The Bloomberg report is a classic example of Uber using unsavory tactics in an attempt to impact our business” and that “Lyft is not for sale, we are on a fully funded path to profitability.”SK