In an interesting and certainly watchable turn of events, Lyft has hired investment bank Qatalyst Partners, according to reports that surface in the Wall Street Journal yesterday (June 27).
“People familiar with the matter” told WSJ that Qatalyst chairman Frank Quattrone has been part of an effort to reach out to large automakers (among others) about acquiring a stake in Lyft.
Qatalyst has been in the news some lately as it was LinkedIn’s financial adviser in during the Microsoft merger. Microsoft ended up snapping up LinkedIn for $26.2 billion. Qatalyst was also Qlogic Corp’s (QLGC.O) financial adviser.
Lyft had no comment on the deal and Qatalyst could not be reached for one.
Lyft has been attracting some big name investment of late. GM dropped $500 million into Lyft in January and began laying out plans for self-driving cars in an on-demand network.
The future is here and good news, it is not at all creepy.
Lyft said its latest funding round, which took place in January, valued it at $5.5 billion.