Lyft mulls trip out of capital destruction


Lyft said 18% of its tech workers are women, compared with just more than 15% at Uber.

NEW YORK: Lyft may be wise to look for alternatives to fighting wars with Uber and Didi Chuxing. 

The US$5.5bil (RM22.22bil) ride-hailing app has hired Frank Quattrone's Qatalyst Partners. With its larger rivals raising and burning billions in an attempt to gain control of markets like China, settling for a profitable exit of some kind could be a way for Lyft to avoid capital destruction. 

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Tech News

India plans curbs on suspect bank accounts to fight cyber fraud, sources say
Tech companies plug into India's smaller cities for talent
Tencent pushes wider adoption of AI-powered smart mobility system from a vehicle’s cockpit to the factory floor
Artificial intelligence offers an opportunity to improve EV batteries
Apple still leads high-end smartphone sales in China, but Huawei and Honor are catching up
Brave China ‘cancer warrior’ dies two days after 25th birthday, final wish to find brother a girlfriend left unfulfilled, leaves netizens devastated
Meta shares plunge 16% in Frankfurt after AI spending, revenue forecast
What next for TikTok in the US?
Atos says it will need more cash than expected
TikTok to fight US ban law in courts

Others Also Read