“Lyft is announcing this morning that it has sold off its legacy ride-matching business Zimride to rental car giant Enterprise Holdings. The sale will allow Lyft to focus on its fast-growing, on-demand ride-sharing business, while also adding to its war chest as the company expands into new markets and competes against the likes of Uber and SideCar.”
While the terms of the deal were not disclosed, this marks yet another collaborative consumption startup bought out by a car rental giant (Just this January, carsharing company ZipCar was purchased by Avis for $500 million). Since Enterprise Rideshare has dabbled in helping people get to work through vanpooling, the acquisition of Zimride will likely provide a more well-rounded offering for consumers looking to use ride sharing for long distance trips.
Check out the full story on TechCrunch.
