Google's parent company considers $1B investment in Lyft

Ivan Schwartz
September 16, 2017

An early breakthrough in the space, based on deals like Lyft, will encourage investors and boost Alphabet's share price and competitive position against the likes of Apple AAPL, Intel INTC and NVIDIA NVDA.

Google parent Alphabet is reportedly considering to make a $1 billion investment into ride-hailing startup Lyft.

Google's self-driving vehicle spinoff company is called Waymo and back in February they filed a lawsuit against Uber.

The investment, which could come from Alphabet's private equity arm CapitalG or Google itself, will be about $1 billion. Also with the investment, it could allow Lyft to become independent, which was co-founder, John Zimmer's, priority for the company. Like Uber, Lyft believes self-driving cars will be a boon to ride-sharing, and is moving aggressively to develop the technology. Although Google did invest millions of dollars into the Uber, it's also now battling with it in court. This was evident when the company offered promotional code for a Lyft ride for the upcoming Pixel 2 launch event. They plan to bring autonomous vehicle technology into the mainstream through pilot projects and product-development efforts.

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What could a billion dollar investment from Alphabet do to help Lyft? Uber sales have slipped throughout the year from lawsuits, former CEO Travis Kalanick stepping down, probing into competitors, and evading government regulations and officials.

Son said: "We are interested in discussing with Uber, we are also interested in discussing with Lyft, and we have not decided which way yet".

Meanwhile, SoftBank reportedly is in talks to invest as much as $10 billion in Uber - a deal that has been rumored to be in the works for weeks, but which threatens to lower Uber's almost $70 billion valuation.

Other reports by GizPress

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