Google’s self-driving car spinoff Waymo is teaming up with Lyft in Arizona to attempt to lure passengers away from ride-hailing market leader Uber.
A corporate spin-off, also known as a spin-out, or starburst, is a type of corporate action where a company «splits off» a section as a separate business.
For a company to announce a spin-off, sale or divestiture of a business, the usual goal is to unlock value or to focus on a core part of the business.