Report: Lyft attempted sale to Microsoft for about $9 billion
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After GM, a Lyft investor, expressed interest in buying the company, Lyft hired investment bank Qatalyst to solicit competing offers from other potential buyers. According to the report from Recode, Lyft approached Microsoft in addition to Google, Apple and others. While Lyft’s latest funding round valued the company at $5.5 billion, Lyft was asking about $9 billion in a buyout offer. As expected, Microsoft was not interested in Lyft and rejected their offer.
While Apple and Google have their own car technology projects, Microsoft is not going to directly compete with them. Instead, Microsoft is aiming to be the cloud technology provider for several car manufacturers.
