Google to invest $1 billion at Lyft, would fight Uber

Alphabet tipped in talks with Lyft over possible $1b investment

Although the online search giant did invest millions of dollars into the ride-hailing company, it's also now battling with it in court. Strikingly, Alphabet likewise holds a stake in Uber through its GV investment arm.

In May, Alphabet's self-driving auto unit Waymo and Lyft announced a partnership to work together on developing self-driving technology; neither offered many details of the agreement.

The sources, who asked to remain anonymous, said that the $1 billion investment could either come from Google or Capital G, Alphabet's private-equity arm. The news comes amidst Waymo's legal spat with Uber, something that resulted in a deal between Waymo and Lyft earlier this year. Press invites sent for the company's upcoming Pixel 2 launch asked attendees if they'd like to receive a promotional code for a Lyft ride to the event. Two months later Lyft announced it would start developing an autonomous platform as a "core" part of its business and that it'd begin licensing the tech out to hardware manufacturers (think: Ford, General Motors and Chrysler). An investment from Google could help the company achieve that goal and give it a leg up on its archrival Uber.

Lyft has recently shifted its focus to controlling its spending, but a $1 billion investment would allow the ride-hailing startup to pursue more aggressive growth through initiatives such as driver subsidies, rider discounts, and marketing programs such as its major television campaign starring Jeff Bridges.




Uber may get support from Softbank Corp., however. However, neither company pursued the deal.

These days? There's no recourse. Therefore, Lyft still needs to remain on its toes to outdo Uber in the near future. "More and more, it's just a matter of economics".

The Information on Thursday also reported Lyft could expand to Canada by year's end, and potentially move into Australia and New Zealand. "Now you think thrice".

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