Wednesday, January 20, 2016

GM Buys Shuttered Uber Competitor, Sidecar

From ars technica:

GM buys Uber rival Sidecar, which shut down in December
Deal comes shortly after $500M investment into Lyft, Uber's last-standing rival.
General Motors has acquired the technology and most of the employees behind the now-defunct ride-hailing startup Sidecar, according to Bloomberg. Sidecar Co-founder and CEO Sunil Paul will apparently not be joining the company, but no explanation was given as to why.

The deal bolsters GM’s move into the driverless quasi-taxi space—earlier this month, it invested $500 million in Lyft to "leverage GM’s deep knowledge of autonomous technology."

Over the last four years, Uber has rapidly expanded to become the dominant force in the industry. Just last month, it was valued at $62.5 billion, making it the world’s most valuable startup....MORE
We had only one post on Sidecar before its demise:
BuzzFeed's Chairman Is Invested In A Uber Competitor
That may have to change as GM starts throwing its weight around.

If interested see also our Jan. 5 link to Bloomberg's "GM Invests $500 Million in Uber Competitor Lyft".