Private ride-sharing company Lyft has attracted investment interest from big players like General Motors, which purchased a 9 percent stake for $500 million in January. However, the company's co-founder and President John Zimmer says the company is not for sale.
"Lyft right now is not for sale," Zimmer said. "We believe that the best way to get to that ultimate vision of creating that alternative to car ownership as an independent business."
Zimmer recently published an op-ed entitled "The Third Transportation Revolution" that outlined Lyft's vision for the future. He said that car ownership has become more of a burden than a symbol of freedom in America, and he expects private car ownership to end in U.S. cities by 2025.
Instead, ride sharing empowers people to live without the car and still engage in freedom without the high traffic, bills or having to pay for a vehicle, he said.