Lyft Hires Investment Bank Qatalyst Partners

The Wall Street Journal has reported that ride share service Lyft has hired Qatalyst Partners to contact automakers about acquiring a stake in Lyft. Lyft said after its most recent funding round in January that it was valued at $5.5 billion.

Qatalyst acted as advisor for Microsoft’s acquisition of LinkedIn earlier this month. They’ve also advised Qlogic to explore strategic alternatives.

General Motors Co GM invested $500 million in Lyft as one of several automakers that looked to get a toehold in the ride-sharing space. GM plans to develop a network of on-demand cars thru its partnership with Lyft.