The ride-sharing company Lyft Inc. hired investment bank Qatalyst Partners LP to explore finance options.
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The competition between the ride hailing service providers is getting hotter by the day with each one looking forward to tap more funding.
And sources tell the Wall Street Journal that Frank Quattrone, the founder and executive chairman of Qatalyst, has been talking to a number of companies-including large automakers-about taking a stake in Lyft.
Lyft declined to comment and Qatalyst could not be reached for comment outside regular business hours.
The bank acted as LinkedIn Corp’s (LNKD.N) financial adviser in Microsoft Corp’s (MSFT.O) deal to buy LinkedIn for $26.2 bln.
Lyft Inc., the USA ride-hailing startup with ties to General Motors, is working with Qatalyst Partners LP to explore deal options, a person familiar with the matter told Bloomberg.
Earlier this year, Lyft closed a $1bn funding round that valued it at $5.5bn and included a $500m commitment from General Motors.
Lyft, the largest US rival to Uber Technologies Inc., has also partnered with Chinese ride-hailing giant Didi Chuxing, India’s Ola and Southeast Asia’s Grab, in order to trying to keeping up with its larger competitor as both companies burn through capital to expand their ride-hailing services.
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Lyft Inc., the second-largest USA ride-hailing startup, is working with Qatalyst Partners LP to explore deal options, said a person familiar with the matter.
