Google's parent company might invest $1 billion in Lyft, report says

Alphabet Considers Lyft Investment of About $1 Billion

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

It's being reported by both Bloomberg and Axios that Google is looking to pump $1 billion into Lyft, though it's not clear whether the money will come from Google itself, or one of its investment arms such as Capital G.

The two companies have already forged strong ties.

Before the falling out, Alphabet's venture capital arm, GV, was an investor in Uber.

The word is that the investment in Lyft is being driven by top-level executives, including Alphabet's Larry Page.

"Whether we made a decision to partner with Uber or Lyft, I don't know what will be the end result".

Lyft isn't the first company most people think of when it comes to hailing a ride. Waymo, Alphabet's self-driving auto division, is battling Uber in court over alleged stolen trade secrets.

The possible investment is extremely interesting because of the fact that Google also invested in Uber back in 2013.

Lyft is in competition with Uber among ride-hailing services in the USA, while Waymo is competing fiercely with Uber in the creation of technology for autonomous cars.

While the relationship was deteriorating, Waymo signed a pact with Lyft to be a partner on the testing of autonomous vehicles. They plan to bring autonomous vehicle technology into the mainstream through pilot projects and product-development efforts. Lyft and Alphabet declined to comment. The FBI is also reportedly investigating whether Uber created software, dubbed Hell, to illegally track the location and rates charged by Lyft drivers. This would make it an even bigger thorn on the side of Uber, which is in a legal battle with Alphabet's self-driving unit Waymo.

Although these conflicts with Alphabet have not been earning a good name for Uber, it still has big brand recognition in and outside San Francisco and Los Angeles.

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