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