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Ride Sharing Company Lyft Proposes Sale to Apple, Amazon, Google and Others

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Ride Sharing Company Lyft Proposes Sale to Apple, Amazon, Google and Others

Lyft, the second-biggest ride-hailing company in the United States behind Uber, is grappling with those forces — but has found that its options are limited.

The company, which is based in San Francisco, has in recent months held talks or made approaches to sell itself to companies including General Motors, Apple, Google, Amazon, Uber and Didi Chuxing, according to a dozen people who spoke on the condition of anonymity because the discussions were private. One person said it was Lyft who was approached by interested parties.

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Lyft’s discussions were most serious with G.M., which is one of the ride-hailing company’s largest investors. Still, G.M. never made a written offer to buy Lyft, said the people, and in the end, Lyft did not find a buyer.

Lyft is not in danger of closing down and has a cash cushion of $1.4 billion, some of these people added, so the company will continue as an independent entity.

Still, the talks underline how difficult it has become to operate in the ride-hailing market, where people can book rides from drivers through a smartphone app. While ride-hailing companies do not own fleets of cars and instead rely on drivers who have their own vehicles, the business is highly capital-intensive. Venture capitalists and other investors have poured billions of dollars into the companies.

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