Is Lyft look­ing for a buyer?

San Francisco Chronicle - - BUSINESS -

San Fran­cisco’s ride­hail­ing startup Lyft has hired Qat­a­lyst, an in­vest­ment bank known for help­ing tech firms land buy­ers, the Wall Street Jour­nal re­ported Mon­day, cit­ing peo­ple fa­mil­iar with the mat­ter.

Frank Qu­at­trone, founder and ex­ec­u­tive chair­man of Qat­a­lyst Part­ners LP, re­port­edly has con­tacted au­tomak­ers and other companies about pur­chas­ing a stake in Lyft, the peo­ple said. The Jour­nal said it’s un­clear if Lyft is try­ing sim­ply to raise funds or wants to sell it­self.

Lyft has re­ceived about $2 bil­lion in fund­ing — far less than ri­val Uber, an­other San Fran­cisco com­pany — and one of its big in­vestors is Gen­eral Mo­tors. Lyft’s most re­cent val­u­a­tion was $5.5 bil­lion.

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