Uber, Lyft & Co. to merge to create a new startup: report

The news of the merger was first reported by The Wall Street Journal.

Uber has a $5 billion valuation.

The Wall is reporting that Lyft has $2 billion in financing, which makes the deal a win-win for both companies.

The deal could make it easier for both of them to grow.

“We’re thrilled to work with Uber, and to help accelerate the development of this incredible company, which is creating a new wave of mobility for riders and drivers around the world,” said Lyft CEO Logan Green.

“Together, we will build on Uber’s leadership, innovation, and speed and drive the next chapter of ride-sharing in America.”

The Wall says the merger will “increase the ability of Lyft to offer a more personal, meaningful experience for drivers and riders.”

Both companies say they’re excited to be partners.

“As one of the world’s most innovative and successful transportation companies, we are thrilled to join forces with Lyft to continue the disruptive transformation of transportation for people around the globe,” said John Zimmer, Lyft’s co-founder and CEO.

Uber and Lyft have already worked together to create the app UberPool, which connects drivers with passengers in their homes.

The app was created by Uber and will launch in the U.S. next year.