Lyft president John Zimmer has repeatedly denied that the ridesharing company is looking to be purchased. However, it looks like Lyft may have denied something else: General Motors’ offer to purchase Lyft.
According to a person briefed on the deal, GM reportedly expressed verbal interest in paying $4.5 billion for Lyft, plus cash on hand ($1.4 billion), for a total purchase price of $6 billion.
Apparently, Lyft was not impressed.
According to another source close to the company, Lyft was seeking an offer in the $8 to $10 billion range, much higher than the alleged GM offer. This comes fresh on the heels of rumours that Lyft has been looking for a buyer. According to an article by the New York Times, Lyft has approached several big names in the past few months – including General Motors, Apple, Google, Amazon, Uber, and Chinese ridesharing giant Didi Chuxing. An acquisition of Lyft by Didi would have been particularly interesting, as the company recently purchased Uber’s Chinese assets and is already a partner with Lyft in China.
In a statement to The Verge, Lyft Spokesperson Alexandra LaManna denied the company was looking for a buyer to begin with: “Our business is stronger than it’s ever been and we are focused on continuing to grow.“