Ridesharing startup and Uber, Inc. competitor Lyft, Inc. may be looking to sell itself, with a report Monday claiming the company has hired a boutique investment bank known for helping tech companies find a buyer.

According to The Wall Street Journal, Lyft has hired Qatalyst Partners LP. Further, Qatalyst Founder Frank Quattrone has been contacting companies including large automakers about acquiring a stake in Lyft.

The report specifically notes that it’s not clear as to whether Lyft is trying to sell itself, or simply attempting to raise more money.

Qatalyst’s last big deal was acting on behalf of LinkedIn Corp. in negotiations that led to Microsoft acquiring them for $26.2 billion earlier this month.

Lyft has raised over $2 billion dollars to date, around one-sixth the amount of rival Uber. Unlike its competitor, Lyft focuses on the North American market. Lyft does, however have a presence in other countries through a ride-sharing agreement with Uber rivals Didi Chuxing in China, Ola in India, and Grab in South East Asia that allows (or will allow once fully available) Lyft customers to use the Lyft app to hail rides in those countries and regions.

Potential buyers

The report names General Motors Company (GM) as the most likely buyer of Lyft, particularly given that GM invested $500 million into the company in January this year, then later announced in May a technology partnership that will see both companies trial driver-less taxis in 2017.

GM is fairly placed near the top of the list of potential acquirers, particularly given it’s also at the forefront of recognizing that the rise of ridesharing services will see demand for personal car ownership decline; a company that has a stake or ownership of a ridesharing service is a company that will still see its cars on the roads in 2030, 2040 or beyond.

That said, there is one other potential suitor for Lyft not being mentioned, and that’s the very cashed-up Chinese Uber rival Didi Chuxing.

While Didi Chuxing dominated app-booked rides in the Chinese market, Uber is spending big money to challenge it; what if Didi decided the best way to challenge Uber was to take them on themselves in Uber’s home territory?

At their last round Lyft was valued at $5.5 billion, while Didi raised a $7 billion round only two weeks ago and is believed to have over $10 billion in the bank, meaning it could afford to buy Lyft, either outright, or in partnership with another company, possibly even GM itself.

Whatever the outcome expect to hear more in the coming months as if Qatalyst is already out talking to potential investors or acquirers, it’s only a matter of time until someone signs on the dotted line.

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