Lyft wants to sell itself, but no one is biting.
The New York Times reported Friday that the ride-hailing company has reached out to a bevy of companies — including tech giants like Amazon, Apple, Google, and even rival Uber — but hasn’t found a buyer.
San Francisco-based Lyft still has $1.4 billion on hand, the Times reported, so the company’s isn’t in trouble. But its attempt to find an acquirer illustrates growth difficulties Lyft is facing as it competes with Uber, which is now valued at $68 billion and just sold off its China business to Chinese ride-hailing giant Didi.
The deal between Uber and Didi actually impacted Lyft, which previously inked a partnership with Didi as part of a global alliance with other ride-hailing companies like Ola. The Wall Street Journal reported earlier this month that a potential merger between Lyft and Uber helped convince Didi to buy Uber’s China arm.
Lyft has raised $2 billion since 2013 and was valued at $5.5 billion after General Motors invested $500 million in the company this past January. The Times reported that there have been “serious” talks between GM and Lyft about an acquisition, but nothing came to fruition — not yet, at least.