Sidecar, the third-biggest ride-sharing service in the U.S., has just been purchased by General Motors, according to Bloomberg . It will officially stop operating on December 31st, 2015.
Around 20 SideCar employees will now work for the automaker, which earlier this year signed a deal with Lyft in order to accelerate the development of on-demand autonomous vehicles.
Sidecar had run into some financial difficulties, but it could definitely help GM become a major player in the ride-sharing and personal mobility business.
The terms of the transaction remain undisclosed. Sidecar has raised about $39 million, according to company spokeswoman Margaret Ryan, which is far less than the capital Uber and Lyft have managed to amass.