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Lyft Reportedly Retains Qatalyst as Ride-Hailing Wars Continue

Lyft reportedly has hired Silicon Valley boutique bank Qatalyst Partners either to raise additional cash or find a buyer.

The ride-hailing service, like Uber Technologies, has been burning through cash trying to establish itself as a next-generation taxi service. While the companies have been a hit with customers and investors, they have not yet been able to turn a profit, and Uber to date has been ahead of its rival in terms of attracting funding.

The Wall Street Journal reported late Monday that Lyft has retained Qatalyst...