Uber finds new rival in Apple as tech organisation courts Lyft

Uber finds new rival in Apple as tech organisation courts Lyft

Uber boss Travis Kalanick may have a new nemesis: Apple boss Tim Cook.

Apple become these days in talks to take a stake in Lyft, the No. 2 ride-hailing app inside the US, as a part of a “strategic partnership” that might pose a sparkling domestic risk to Uber, assets told The Post.

The size of Apple’s capability investment in Lyft couldn’t be discovered, and it’s now not clear whether the talks are nevertheless ongoing, according to assets briefed at the situation.

Discussions approximately the feasible partnership with Apple were targeted on forming a likely aggressive and operational alliance, resources said.

The talks, the sources added, weren’t part of Lyft’s exploration of strategic options this summer season, a process that became led by funding financial institution Qatalyst Partners.

“M&A changed into no longer mentioned at all,” a supply close to the talks told The Post, adding, “There’s no hobby from Apple or Lyft in an acquisition” of Lyft.

Apple’s talks with Lyft are the present day signal that the iPhone maker is escalating what could be a worldwide battle with Uber as each groups amplify into self-using-vehicle era.

Qatalyst, led via hard-charging tech banker Frank Quattrone, “reached out” to Apple approximately a probable Lyft acquisition, one supply referred to, because it likewise brokered discussions with prospective acquirers together with Google, Amazon and GM.

That procedure, which Lyft’s board initiated after it obtained an expression of hobby from GM, didn’t bring about any critical merger discussions, assets stated.

Meanwhile, assets stated the operational tie-up being discussed by Apple and Lyft turned into much like the only Apple took in July with its $1 billion stake in Chinese experience-sharing massive Didi Chuxing.

The deal with Didi, which has been worth $26 billion, became a key element in Uber’s selection closing month to give up its aspirations to compete as a stand-by myself company in China and merge its operations there with Didi’s, consistent with some enterprise insiders.

Likewise, the chance of Apple turning into a deep-pocketed backer of Lyft, which became valued at greater than $5 billion in its most current round of funding, may want to alternate the aggressive equation for Uber within the US, sources stated.

San Francisco-based Lyft has these days been battling hypothesis that it's miles trying to find a customer, as the give up of Uber’s combat with Didi in China has freed up cash for a possible showdown with Lyft in the US.

Lyft execs have countered that the employer has $1.4 billion in cash, although it has disclosed it’s spending $600 million as it dangles incentives for drivers and passengers alike in an aggressive struggle for marketplace percentage against Uber.

“Lyft isn't always for sale, we're on a fully funded path to profitability,” a spokeswoman said Sunday.

On Monday, officers at Apple and Lyft declined to remark.