GM Expressed Interest In Buying Lyft, But Lyft Declined

An anonymous reader writes from a report via TechCrunch: The Information has reported that GM has expressed interest in purchasing the ride-sharing company Lyft. GM reportedly specified a price it would’ve paid for the company, but Lyft declined their offer and opted instead to raise new funding. TechCrunch reports: “The Information’s info suggests that GM’s interest in the car sharing market extends beyond simply partnering up with an external party (Warning: paywalled). In statements to The Information, both companies expressed continued excitement and enthusiasm about their ongoing partnership. Depending on the size of the offer on the table, this could prove a risky move by Lyft. It already faces steep competition from Uber, which has far more cash on hand thanks to a series of monster equity and debt raises. Meanwhile GM could decide it wants to own its own operation, and either look around for another acquisition target like Daimler, or build an in-house on-demand ride-service, which is what Ford appears to be doing with its Smart Mobility subsidiary.”

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