Lyft hires investment bank Qatalyst Partners

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By Larry Banks

Ride-sharing firm Lyft has hired investment bank Qatalyst Parters, according to a report in the Wall Street Journal on Monday.

Qatalyst Chairman Frank Quattrone has apparently contacted companies, including carmakers, about buying a stake in the firm, says the Journal.

The bank acted as LinkedIn’s financial advisor during the recent Microsoft deal to buy the company for $26.2 billion, a move that was announced earlier this month.

Qatalyst also acted as financial adviser to Qlogic, according to Bloomberg, to explore strategic alternatives.

Lyft has so far decline to comment.

Carmaker General Motors invested $500 million in Lyft early this year, describing plans to develop an on-demand network of self-driving cars with the ride service.

Lyft said its latest funding round, which took place in January, valued it at $5.5 billion.

SOURCE: Reuters.

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