Alphabet could invest in Lyft

Alphabet could invest in Lyft

Alphabet is in talks to invest roughly $1 billion in Lyft, according to Bloomberg.

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

An investment from Alphabet could provide a boost to Lyft as its battles Uber for market share in the USA and would also enable Lyft to ensure its independence for the near future. Alphabet's self-driving auto unit, Waymo, is now involved in a fierce court battle with Uber over alleged intellectual property theft and patent violation.

It also underscores just how much the relationship between Google and Uber has deteriorated in recent months. The money could help the United States ride-sharing service expand to worldwide markets and try to take some business away from rivals. This has been your daily ride-hailing app business-deal update for Friday, September 15th, 2017.

"Lyft has always been the stepchild - now they're getting a bit more attention from Daddy, so maybe they won't be thought of so much as the second choice or the second player", said Gregory Sichenzia, a partner at securities law firm Sichenzia Ross Ference Kesner LLP.

In July, Lyft announced it was forming an autonomous-car division that would be based at a new center in Palo Alto, California. Lyft and Alphabet both declined to make any official comment about the matter. The two companies might be a good fit for each other: Waymo has been looking for a commercial outlet for its autonomous driving tech for years; Lyft, meanwhile, is a relative newcomer to autonomous driving, but has the commercial expertise Waymo lacks.

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".

Lyft has a stringent background check policy in place for its drivers, while also ensuring each of its drivers with a $1 million Dollars liability policy.

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