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GM Expressed Interest In Buying Lyft, But Lyft Declined (techcrunch.com)
An anonymous reader writes from a report via TechCrunch: The Information has reported that GM has expressed interest in purchasing the ride-sharing company Lyft. GM reportedly specified a price it would've paid for the company, but Lyft declined their offer and opted instead to raise new funding. TechCrunch reports: "The Information's info suggests that GM's interest in the car sharing market extends beyond simply partnering up with an external party (Warning: paywalled). In statements to The Information, both companies expressed continued excitement and enthusiasm about their ongoing partnership. Depending on the size of the offer on the table, this could prove a risky move by Lyft. It already faces steep competition from Uber, which has far more cash on hand thanks to a series of monster equity and debt raises. Meanwhile GM could decide it wants to own its own operation, and either look around for another acquisition target like Daimler, or build an in-house on-demand ride-service, which is what Ford appears to be doing with its Smart Mobility subsidiary."
Troll, I applaud you.
I criticized his hoary old shitpost in another thread, and he actually addressed my complaints and modernized it. In recognition of this effort, I upgrade my score to 6/10. Hey, it's a passing grade. D is for diploma.
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GM reportedly specified a price it would've payed for the company
And on the 8th day God said "Here's the BSD License".
Big mistake. You should have upgraded to Linux 12. No GPL! You are a terrible consultant.
that wacked ass site theinformation.com
That sounds like a site name that was sat on when internet naming first began. This story is garbage. Who cares if GM is going to by Lyft?
Link to a paywalled site? OH OK FBI CUNTS.
GM was interested, but they declined. This reads like not only FBI but a stock pump and dump Jim Cramer scheme.
Cut out FBI, save taxes.
Apparently Anonymous Coward doesn't realize that in this day and age the packets that flow over the internet flow over really expensive boxes running a huge amount of software on top of a linux kernel.
Obvious troll is obvious.
I'm game, as long as I don't have to ride with Uber.
Before bankruptcy, bailout, and restructuring, something like half of GM's business was financial and not...you know...making cars. I suppose it's a bit of an improvement that the acquisition was for a company that has *something* to do with cars at least, but it sure does look the same old bean counters are back in charge. Shame too. I like my pre-bailout chevy and was thinking of getting a new one in a couple of years. If the same old story is getting a Hollywood reboot, I might just need to wait it out or get a Toyota.
GM is a terrible company. Bad management, bad engineering, bad everything. They staff their R&D department with lifers who spend more time complaining about not getting a clause in the collective bargaining deal about toilet paper quality or ratio of decaf pots in the cafeteria than they spend thinking about the future of transportation. And somehow being acquired by that gigantic cancer would have helped Lyft gain market share over Uber?
Only outcome would have been to force Lyft to use shitty GM cars.
lucm, indeed.
So an also ran company in a ride share dispatching "industry" thinks so highly of itself that it is literally throwing away money.
Remember when Microsoft offered to buy Yahoo!? Did you see how that turned out?
If I were a Lyft investor, I'd start my lawsuit now! Declining a GM buyout is gross mismanagement and epic fucking stupidity.
Years ago the Detroit car companies owned pieces of (or sometimes the entirety of) the major US rental car companies. Makes a nice place to dump unsold inventory - which they still do, despite having divested their ownership over time a long time ago.