Mexican Media Brands
Report: Alphabet Ponders $1 Billion Investment in Lyft
Alphabet Inc. is in discussions about investing about $1 billion in ride-hailing service Lyft Inc., sources tell Bloomberg News.
Share
Alphabet Inc. is in discussions about investing about $1 billion in ride-hailing service Lyft Inc., sources tell Bloomberg News.
They say the commitment if finalized may come from Alphabet’s Google or CapitalG units. Bloomberg notes that Alphabet already holds a stake in Lyft rival Uber Technologies Inc. through its GV venture capital arm. Alphabet’s Waymo autonomous car unit agreed in May to partner with Lyft on tests of self-driving cars.
Some investors have suggested that an outright purchase of Lyft by Alphabet would make a good fit. The two companies held informal discussions last year.
A $1 billion infusion would enable Lyft to achieve short-term independence and accelerate its marketing and growth plans, Bloomberg says. The San Francisco-based company has gained market share this year at the expense of Uber, whose series of self-inflicted crises and high-profile lawsuits led to the ousting of founder-CEO Travis Kalanick in June.
RELATED CONTENT
-
On Electric Pickups, Flying Taxis, and Auto Industry Transformation
Ford goes for vertical integration, DENSO and Honeywell take to the skies, how suppliers feel about their customers, how vehicle customers feel about shopping, and insights from a software exec
-
Robotic Exoskeleton Amplifies Human Strength
The Sarcos Guardian XO Max full-body, all-electric exoskeleton features strength amplification of up to 20 to 1, making 200 pounds—the suit’s upper limit—feel like 10 pounds for the user.
-
Multiple Choices for Light, High-Performance Chassis
How carbon fiber is utilized is as different as the vehicles on which it is used. From full carbon tubs to partial panels to welded steel tube sandwich structures, the only limitation is imagination.
