Google may invest $1 billion in Lyft

by Ben Pena September 16, 2017, 0:30
Google may invest $1 billion in Lyft

Bloomberg, citing unnamed people "familiar with the matter", on Thursday reported that Alphabet has been talking with Lyft in recent weeks about making a "potential investment" in the rideshare company. That could strengthen the ties between two of Uber's main autonomous-car rivals. That relationship, though, became more complicated when Alphabet's Waymo sued Uber this year for alleged theft of trade secrets. According to Bloomberg, GV still holds shares in the ride-hailing giant, even though its parent company, Alphabet, has begun actively backing its biggest competitor. Prior to working with Uber, Didi also had a partnership with Lyft that allowed Lyft customers to hail Didi rides from the Lyft app when they were in China, and vice versa.

Lyft announced last year it would be expanding its work in self-driving cars and was aiming to have autonomous vehicles account for the majority of Lyft rides within five years.

If you'll remember, Alphabet was an early Uber investor, which gets tricky when you realize that Waymo is now suing Uber over theft of trade secrets. In July, Lyft announced it was forming an autonomous auto division that would be based in Palo Alto, California.

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Both Alphabet and Lyft declined to comment when pinged by the publication.

Needless to say, if Google were now to invest such a large amount in Lyft, it would be a serious blow to Uber, which is also currently trying to secure more funding.

Uber is now in the process of trying to secure more funding, with Lyft set to expand into Canada - which would be its first global expansion. Uber recently kicked out CEO Travis Kalanick and replaced him with Dara Khosrowshahi after slew of allegations of sexual harassment, sexism and other inappropriate behavior within the company.


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