Lyft Is Said to Hire Qatalyst as Uber’s Rival Explores Deals

Lyft

Photographer: Andrew Harrer/Bloomberg

Lyft Inc., the second-largest U.S. ride-hailing startup, is working with Qatalyst Partners LP to explore deal options, said a person familiar with the matter.

Qatalyst, an investment bank founded by Wall Street veteran Frank Quattrone, has orchestrated high-profile sales of technology companies. Lyft and Qatalyst declined to comment.

The Wall Street Journal, which earlier reported the hiring, said Quattrone has contacted large automakers about buying a stake in Lyft. In January, Lyft said General Motors Co. invested $500 million into the San Francisco company.

Lyft, which was last valued at $5.5 billion, has been overshadowed by Uber Technologies Inc. While Lyft only operates in the U.S., it has teamed up with China’s Didi Chuxing and other global ride-hailing companies to form an alliance to take on Uber.

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