Wednesday, 20 September 2017

Alphabet considers billion-dollar investment in Lyft

Google' parent organization Alphabet has been reportedly planning for an investment in ride-sharing app, Lyft for about $1 billion.



Google has previously invested in Uber but that relationship recently nosedived as Alphabet’s self-driving car unit, Waymo, is suing the biggest ride-hailing company in the world claiming that an engineer who left Waymo for Uber stole and shared company information.

It is noteworthy to add that Alphabet is already collaborating with Lyft via Waymo on autonomous vehicle technology.

Lyft had announced last year that 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. Till date, Lyft has raised over $2.5 billion and the ride-sharing company recently raised $600 million in April 2017.

Alphabet and Lyft declined to comment on the report.

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