Amazon is opening up eCommerce business and the ride-sharing company is looking to expand its footprint in the US as well as overseas.
Uber has been acquiring ride-hailing business Lyft, and the two companies are expected to announce a partnership in the coming weeks.
Both Uber and Lyft have been in talks with several US companies to acquire ridesharing businesses, which could open the door for the ridesharer’s to use the services like Uber and the likes of Lyft for their own rides, according to sources.
Both companies are looking to acquire a ride-share company in the near future, which would open the way for the ride share company to expand to other countries, the sources said.
“The US has some of the largest companies in the world that are building out the infrastructure to compete with Uber, Lyft, the likes,” a source familiar with the matter told TIME.
“It is an exciting time for these two companies.”
Amazon is also trying to build its own ride-booking business, and it’s looking to take Lyft out of the US market, a source said.
Lyft is currently headquartered in California.
“We are in talks and are considering several partnerships,” Lyft said in a statement to TIME.
The news comes on the heels of Amazon acquiring ride sharing business Airbnb for $3 billion.
Amazon acquired the company in November.
Airbnb has reportedly already raised another $5 billion for its business, which is currently valued at more than $80 billion.
In May, Amazon announced it was looking to buy Lyft.
The company is also reportedly looking to add more competitors to its rideshipping platform.
Uber has been expanding its presence in the U.S. and overseas, with its new headquarters in Seattle.
In addition to its investments in ride-sharing, Uber is also investing in more rideshopping businesses.
In June, Uber announced plans to add new brands in the city.
A ride-service company is a company that operates a system for transporting people or goods to places.
The company connects passengers with drivers, who then provide rides.
The ride-riding industry has grown in recent years and is now worth $50 billion to $100 billion, according the Bloomberg Billionaires Index, with more than a quarter of that growth coming from ride-hare companies.
Uber and other ride-hire companies have been investing heavily in the business.