Alphabet considering $1 billion investment in Lyft: Report
Google parent company Alphabet is considering a $1 billion strategic investment into Lyft, according to Axios and Bloomberg. Deal talks are in the early stages with Uber's main competitor as it reportedly could still fall apart.
It's not clear which Alphabet division would make the $1 billion investment into the popular ride-hailing platform. Alphabet could put the investment under CapitalG, an investment arm, or Google itself. Axios reported Alphabet's consideration is driven by top executives within Alphabet, including CEO Larry Page.
Alphabet is no stranger to the ride-hailing scene. Google was an early investor in Lyft competitor Uber. Waymo, Alphabet's self-driving car division, is battling Uber in court over alleged stolen trade secrets. Waymo and Lyft have a partnership to test self-driving cars, and perhaps eventually build a network.
See also: Uber officially names Dara Khosrowshahi as its new CEO (CNET)
Alphabet isn't the only one showing interest. Last month, SoftBank CEO Masayoshi Son said his global investment arm is considering an investment in Lyft or Uber. To compare, Lyft has received $2.6 billion in venture funding and is valued at $7.5 billion, and Uber has received $12.9 billion and is valued at $68 billion.
The Information on Thursday also reported Lyft could expand to Canada by year's end, and potentially move into Australia and New Zealand.