Ride sharing

NYT: Lyft unsuccessfully attempts to sell itself to Apple, Google, Uber and others

Despite not being in danger of closing down thanks to its cash cushion of $1.4 billion, the popular ride-sharing service Lyft has in recent months attempted to sell itself to Apple and a few other Silicon Valley giants like Google, Amazon and Uber, The New York Times reported yesterday. None of the mentioned companies commented on the story.

The nation’s second-largest ride-hailing firm also attempted a sale to China’s leading ride-sharing service, Didi Chuxing, into which Apple invested $1 billion, and to General Motors, one of its largest investors that refused to make a written offer to buy it.

Apple-backed Didi Chuxing buys rival Uber China

Now we (probably) know why Apple poured a cool $1 billion into China’s leading ride-sharing service Didi Chuxing as that company’s just invested—you guessed right—$1 billion into its biggest rival, Uber China. The transaction, subject to closing conditions, will also give a 20 percent stake in the combined firm for Uber and its shareholders, said Bloomberg.