Alphabet could invest up to $1B in Lyft

By : |September 15, 2017 0

As Uber tries to find a way out of its troubled tides, its arch-rival in the US- Lyft is taking every possible advantage of the situation. According to Bloomberg, Lyft is in talks to raise up to $1 billion from Alphabet.

Another report from Axios says that discussions over possible investment began a month back and the “top-level company executives like Alphabet CEO Larry Page” are driving the negotiation.

At the moment, it’s unclear what division of Alphabet the investment would come from — either Google itself, or Capital G, one of Alphabet’s investment arms.

Alphabet has also been an early investor in Uber but that relationship has gone down the ditch in past few years. Alphabet’s self-driving car division, Waymo is currently locked in an ugly legal battle with Uber over trade secret theft.

Lyft last raised $600 million at a $7.5 billion valuation in April. Since the beginning of 2017, it’s launched in dozens of new cities across the US and now is nearly as ubiquitous as its rival. Lyft is currently available in 40 states.


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