lyft move to sell itself got little traction
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Lyft move to sell itself got little traction

Arab Today, arab today

Arab Today, arab today Lyft move to sell itself got little traction

A Lyft driver navigates to her passenger on February 3, 2016
San Francisco - AFP

The on-demand ride company Lyft recently made moves to sell itself but the effort got little traction, the New York Times reported on Friday.

The San Francisco-based startup in recent months held talks and approached an array of companies, including technology giants Amazon, Apple, and Google as well as US rival Uber and Chinese ally Didi Chuxing, the Times said in a story based on a dozen anonymous sources who knew of the private discussions.

The most serious talks were reported to have taken place with US auto maker General Motors, which invested $500 million in Lyft early this year as part of a vision to have self-driving cars at the ride-sharing service, but they did not result in a written offer.

No buyer was found, according to the Times.

"There is no shortage of conflicting rumors in our industry and we are not commenting on them," Lyft said in an email response to an AFP inquiry.

Part of the trouble luring a buyer was price. Lyft was valued at $5.5 billion in a January funding round that included GM and the selling price would be expected to be more than that amount, according to the Times.

Lyft's inability to find a buyer illustrates the challenge of operating in the competitive market built on enabling people to summon rides from freelancing motorists using smartphones, handling the business side of transactions in the internet cloud.

Uber threw in the towel in China earlier this month after a costly battle, selling is subsidiary there to Chinese ride-sharing giant Didi Chuxing.

In exchange for Uber China assets, Uber and its Chinese partners received a 20 percent stake in the new Didi Chuxing entity.

News of an effort to sell Lyft could risk destabilizing its alliances made in Asia to better compete there.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

lyft move to sell itself got little traction lyft move to sell itself got little traction

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

lyft move to sell itself got little traction lyft move to sell itself got little traction

 



GMT 19:28 2011 Sunday ,06 November

4 Best Kamasutra sex positions

GMT 04:51 2018 Thursday ,20 September

Pakistan's Prime Minister begins state visit to UAE

GMT 14:15 2017 Wednesday ,15 February

Senior Republican Calls for Investigation into Trump Ties

GMT 07:53 2018 Tuesday ,23 January

Joy and hope in Liberia as George Weah sworn in

GMT 06:15 2017 Saturday ,30 December

Chinese leasing firm orders 50 Airbus jets

GMT 11:11 2017 Saturday ,02 December

Serious health risks waste burning

GMT 10:03 2017 Tuesday ,26 September

Menna participates in Part II of 'Devil’s Joys'

GMT 07:19 2017 Friday ,25 August

In Mexico, impunity piles up along

GMT 13:15 2017 Friday ,28 April

Egyptian MP will support Sisi in 2018 elections

GMT 10:00 2017 Sunday ,26 November

Eight-try Scotland thrash 14-man Australia
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday