Google's parent company considers $1B investment in Lyft

The two camps, Alphabet and Uber, do not live in harmony any more.

Lets just not say that this is directly related to Uber, which has a new CEO and is trying to move on from the disaster of the past few months. Uber's last valuation put the company's worth at approximately $68 billion, indicating that SoftBank is looking to value it at closer to $45 billion if it's to go through with its investment.

Look out Uber. Sources claim Alphabet is now in talks about making a major investment in ridesharing company Lyft, something that will be done through either Google or CapitalG. Google already has a stake in Uber, but is also suing Lyft's ride-sharing rival in an intellectual property dispute.

Lyft could certainly do with the funding as it tries to play catch up with Uber.

It would be a relatively controversial investment, given the legal action Alphabet's self-driving vehicle unit, Waymo, is now embroiled in. Lyft closed a $500 million financing round in April, with support from Kohlberg Kravis Roberts, the private equity firm.

Alphabet is said to be considering investing a strategic $1billion into ride-hailing company Lyft, according to Bloomberg. It is unclear what the status of those talks are, though the discussions appear to be driven by Larry Page, Alphabet's chief executive, the people said. While still much smaller than Uber, Lyft has seen its market share grow recently, in part because of its rival's many scandals. Cruise declined to comment further on future business plans. Uber is now under three federal investigations and is facing a high-profile and entirely public legal battle with Alphabet's Waymo over alleged trade secret theft which is moving to trial next month. However, lesser-known ride-sharing apps are active in the province.

However, some investors suggested that Alphabet would be the natural home for the company.

Vanessa Coleman

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