Lyft Raising New Round After Turning Down GM Acquisition Offer

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Lyft Raising New Round After Turning Down GM Acquisition Offer

Lyft Raising New Round After Turning Down GM Acquisition Offer by PitchBook

Lyft recently rejected takeover advances from General Motors (NYSE: GM), according to The Information. After talking with other potential acquirers, Lyft reportedly turned down GM and instead plans to raise a new round of funding.

Although an acquisition isn’t in the offing—at least for now—this news further outlines a strong relationship developing between the two companies. In January, GM contributed $500 million to Lyft as part of a $1 billion round of funding, acquiring 9% of the company in the process. Then, in March, the companies announced a partnership with plans to launch a fleet of self-driving cars within a year.

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CreditValueWalk's Raul Panganiban interviews Joseph Cioffi, Author of Credit Chronometer and Partner at Davis + Gilbert where he is Chair of the Insolvency, Creditor’s Rights & Financial Products Practice Group. In the interview, we discuss the findings of the 3rd Annual report. Q2 2021 hedge fund letters, conferences and more The following is a computer Read More


Having such an established, deep-pocketed company among its serious supporters is huge for Lyft, especially since its main competitor, Uber, is the most highly valued private company in the world.

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