Is Lyft Looking For A Buyer? by PitchBook
Ridesharing platform Lyft has hired Qatalyst Partners to either help find an M&A buyer or begin searching for investors for a new financing round, according to The Wall Street Journal. The company was valued at $5.5 billion with a $1 billion investment in January, which means its price tag may not be too exorbitant for M&A, unlike competitor Uber and its $66.6 billion valuation. And with Lyft claiming to be on the path to profitability, it could provide a strong return for its investors even in this uncertain market.
As far as big-ticket M&A deals are concerned, the company appears to have chosen the right investment bank: Qatalyst recently advised LinkedIn on the company’s agreed-upon sale to Microsoft (NASDAQ: MSFT) for $26.2 billion.
