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Friday, September 15, 2017
Alphabet Could Invest in Lyft


Alphabet is in discussions with Lyft Inc about a possible investment in the ride-hailing company, Reuters and Bloomberg report.

An injection of support from one of Silicon Valley's largest companies could be a boost to Lyft as the No. 2 ride provider battles rival Uber Technologies Inc for market share.

Bloomberg, citing people familiar with the matter, reported there was at least some discussion of a $1 billion deal.

Alphabet and Lyft declined to comment.

In May, Alphabet's self-driving car unit Waymo and Lyft announced a partnership to work together on developing self-driving technology.

Lyft raised $600 million in fresh funding in April, mostly from large global investment funds. The round valued the company at $7.5 billion, up from $5.5 billion at Lyft's previous financing more than a year earlier.

Alphabet since 2013 has been an investor in Uber through its venture capital arm, known as GV. That relationship, though, became more complicated when Alphabet's Waymo sued Uber this year for alleged theft of trade secrets.



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