GM Announces It's Acquiring San Francisco-Based Sidecar
DETROIT (CBS/AP) -- General Motors Co. says it has acquired defunct ride-hailing company Sidecar.
The terms of the deal weren't disclosed. Sidecar ceased operations on Dec. 31.
GM says it will integrate some of Sidecar's employees and assets into its own urban mobility team.
Sidecar, which was founded in 2012, offered three separate app-based services through its fleet of drivers: ride-hailing, car-pooling and deliveries. It operated in 10 U.S. cities, including Seattle and Boston, but struggled to compete with bigger rivals Uber and Lyft.
The acquisition of the San Francisco company is GM's second major mobility deal this month. Earlier in January, the Detroit automaker invested $500 million in Lyft.
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