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Lyft picks up $1 billion funding round led by Alphabet's CapitalG

Lyft picks up $1 billion funding round led by Alphabet's CapitalG

But the technobromance first began to bud back in May, when Alphabet's autonomous vehicle development company Waymo partnered with Lyft, which gave Waymo a major boost in its effort to catch up with Uber-its main rival in the self-driving auto wars.

Google's parent company has reportedly been considering investing heavily in Lyft since at least September.

Bloomberg previously reported Alphabet was considering a $1 billion investment. The internet giant was a major Uber backer, but the companies have clashed in court over autonomous vehicle technology this year. "We're also excited to work with CapitalG Partner David Lawee, who is joining Lyft's Board".

U.S. ridesharing giant Lyft announced Thursday it has received a $1 billion investment led by the venture arm of Google parent Alphabet, to help ramp up its challenge to market leader Uber.

Hillary Clinton is right to warn us about Wikileaks
Trump had previously cried out, 'Hillary, please run again!', as a follow-up to his tweet saying he hopes she runs for president in 2020.

Alphabet also has ties to Uber through its second investment arm, GV. But what was a promising partnership quickly turned rocky as Uber and Google became ostensible competitors in the self-driving and transportation spaces. In 2013, Google Ventures partners David Krane and Bill Maris poured $258 million into Uber, a stake reportedly worth about 7 percent of the company at the time. Uber has the scale, but Lyft's less aggressive approach is paying off. SoftBank invested in Alibaba. The $1 billion Lyft secured in funding on Thursday follows a $600 million funding round in April.

The ride-hailing wars just got even messier.

Uber has most recently been valued at $68.5 billion, but a series of scandals has taken a toll on its valuation. Lyft last week said that its drivers will use Google Maps for in-app navigation.

What's also interesting about this deal is that CapitalG was a backer for Uber early on in the company's life.


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