It has been open news for some time that Apple invested $1 billion in China’s number one ride-sharing company, Didi Chuxing. Now, Silicon Valley start-up and second-largest ride-sharing company in the U.S., Lyft, is looking for a buyer and apparently Apple is in the mix.
GM has made sizable investments into Lyft and reports have called the two “partners”. Also, work is in progress for GM to use Lyft and the upcoming Chevy Bolt EV in future projects. GM has obviously shown the most interest, however, the company has never attempted to purchase the Lyft.
While Lyft is not yet profitable, the company is in good shape at the moment, worth $5.5 billion, with about $1.4 billion in extra cash. The company has also had conversations with Google, Amazon, Uber, and Didi Chuxing. There is no clear information yet as to whether or not these conversations were initiated by Lyft, the “interested” buyers, or a mix of both situations.
The asking price may be the number one deterrent, keeping buyers cautious about making quick decisions. Apple has more free cash than any other company by leaps and bounds and has already secured a vested interest in ride-sharing. Added to this, Apple’s partner, Didi Chuxing has already partnered with Lyft to combat Uber. An even further complication came recently when Didi purchased Uber’s stake in China.