That’s because GM owns 18.6 million Class A shares of Lyft Inc., making it one of the largest investors in the ride-hailing company.
Why did Lyft partner with GM?
GM invested $500 million in Lyft in early 2016 and owns about 9% of the company. Dan Ammann, the carmaker’s president, sits on Lyft’s board. When they formed the partnership a key goal was to create an autonomous, on-demand vehicle network.
Who owns Lyft stock?
Top 10 Owners of Lyft Inc
|BlackRock Fund Advisors||3.47%||11,527,783|
|Jackson Square Partners LLC||2.54%||8,442,057|
|Baillie Gifford & Co.||2.28%||7,565,481|
|SSgA Funds Management, Inc.||2.13%||7,084,198|
How much did Lyft start with?
Lyft priced its offering at $72 per share, good for a valuation of $20.6 billion, and that was already up from the original pricing range of $62 to $68 per share. Demand for the stock remained strong, and Lyft ended up opening the day at a price of $87.33.
Why did GM invest in Lyft and not uber?
Matthew Stover, an automotive industry analyst at Susquehanna Financial Group, said he sees the investment as a long-term learning play by GM to understand how ride-hailing companies operate, who uses them and get a better sense of the threat to the automotive industry.
The top shareholders of Uber are Dara Khosrowshahi, Tony West, Nelson J. Chai, SB Investment Advisers (UK) Ltd., Morgan Stanley, and FMR LLC.
Does Google own Lyft?
Google parent company Alphabet has more than doubled its money on Lyft to $1 billion in just 17 months. Between its investments in Uber and Lyft, Alphabet owns a stake worth over $4 billion in ride hailing.
Who owns Uber?
Dara Khosrowshahi is the CEO of Uber, where he manages the company’s fast-growing business in 63 countries around the world and leads a global team of more than 22,000 employees. Dara was previously CEO of Expedia, which he grew into one of the world’s largest online travel companies.
Is Lyft owned by Uber?
“Uber will own a chunk of a chunk of Lyft,” Matt Levine writes in Bloomberg View, “in a big happy family of interlinked ride-sharing.”
Is Lyft a corporation?
Lyft, Inc. is an American company that develops, markets, and operates a mobile app, offering ride-hailing, vehicles for hire, motorized scooters, a bicycle-sharing system, rental cars, and food delivery.
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