Alphabet reportedly considers a $1 billion Lyft investment

Alphabet Considers Lyft Investment of About $1 Billion

Now Alphabet is reportedly in talks to invest $1bn into Lyft and could come either from Google or Google's CapitalG - its investment division.

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

And in May this year, Alphabet's self-driving vehicle unit Waymo and Lyft said they would be forming a partnership to work together on developing self-driving technology. The company has previously invested in Lyft's rival, Uber, but that relationship has soured lately.

The search giant invested more than $250 million in Uber through its GI venture capital arm in 2013. They plan to bring autonomous vehicle technology into the mainstream through pilot projects and product-development efforts.

Son said: "We are interested in discussing with Uber, we are also interested in discussing with Lyft, and we have not decided which way yet". 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.

Uber once dominated the USA ride-hailing scene with around 90 per cent of the market, but according to some surveys Lyft has whittled that down to around 75 per cent as Uber has continued to grapple with a series of scandals.

It isn't clear when the talks took place or whether a deal will materialize.

If the investment pushes through, it will add to the already-heavy plate of problems of Uber and its new CEO.

In San Francisco, the company has expanded its shuttle service with a total eight routes, and it has six sroutes in Chicago.

Lyft has raised over $2.5 billion so far.

With Alphabet taking so much interest in the autonomous driving space segment, more investments in this space are expected to happen sooner or later.

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