Skip to main content

Got $9 billion? Lyft would like to talk to you about buying it

It may have turned down an offer from General Motors, but that doesn’t mean Lyft isn’t in the market for a buyer. As per a report from the New York Times, the transportation giant has been relatively open to the notion of selling itself to a larger company, having faced numerous challenges including strict regulations, tough competition from Uber, and of course, the fact that it still hasl yet to turn a profit.

The San Francisco-based company is said to have “held talks or made approaches” to companies ranging from like Apple, Google, Amazon, Uber, and Didi Chuxing, anonymous sources told The Times. The same sources noted that GM never ultimately made a written offer to buy Lyft, and obviously, the startup has yet to find anyone to ease its burden — partially, perhaps, because the company wanted $9 billion for a buyout, sources told Recode.

Recommended Videos

Sure, the pink mustaches aren’t really in trouble for the time being. The firm is sitting on $1.4 billion cash, so there’s no real rush to find a new owner. That said, it’s clear that the struggle is real when it comes to operating a ridesharing business in an extremely crowded market. Even as Lyft continues to form new partnerships with companies like Volvo, and pursue new technologies like autonomous cars, differentiation has proven a tough nut to crack.

“One of the challenges for these companies is to figure out how to grow and sustain that latent demand for these businesses, but also to eventually become profitable,” Susan Shaheen, co-director of the Transportation Sustainability Research Center at the University of California, Berkeley, told The Times. “Part of the challenge in evolving those services is just balancing out those factors. And that’s not an easy task.”

Shaheen added that not a single company could boast expertise in software, manufacturing, and ridesharing under a single roof, and concluded, “That’s where acquisition comes in.”

Lulu Chang
Fascinated by the effects of technology on human interaction, Lulu believes that if her parents can use your new app…
OnePlus Nord 5 shows Samsung how to make the perfect Galaxy S25 FE
Rwar shell of the the OnePlus Nord 5.

About three weeks ago, a rather interesting phone landed at my doorstep. It was OnePlus’ latest budget pleaser, which neither falls in the “mid-tier” segment, nor sniffs too close to the flagship summit. Yet, the value it offers at an MSRP of around $400 redefines the whole concept of the class that we often refer to as “budget flagships.” 

The Samsung Galaxy Fan Edition phones are the quintessential definition of this honor, at least for the competition-starved US market. After using the OnePlus Nord 5, I’ve come to the realization that this is what a true Fan Edition phone should look like. One that delivers where it matters, without a confoundingly high price tag slapped on the box. I believe it's a recipe for Samsung to emulate for its next Fan Edition phone.

Read more
I’m excited for the Pixel 10 Pro Fold, but it could let us down in one area
Google's tipped to deny its most expensive phone a top spec
Someone holding the Google Pixel 9 Pro Fold, showing the back of the phone.

The Google Pixel 10 Pro Fold looks set to gain a number of significant upgrades over its predecessor including a larger display, smaller hinge, bigger battery, and improved dust resistance.

The Google Pixel 10 series is tipped to arrive in the coming months - possibly as soon as August - and we're expecting to see a quartet of new devices, including the Pixel 10 Pro Fold.

Read more
OnePlus 13 owners get a major new AI tool for free
Plus Mind is just the beginning of OnePlus' AI ecosystem
A person holding the OnePlus 13.

Owners of the OnePlus 13 and OnePlus 13R smartphones are receiving a software update which includes a significant new AI feature.

OnePlus has started to roll out its Plus Mind AI tool to 13 and 13R handsets around the world, giving users the ability to receive intelligently suggesting actions while also storing the information for you to search through at a later date.

Read more