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Report: Google Parent Alphabet Mulling $1B Lyft Investment

Uber-rival Lyft may soon be getting a huge infusion of cash from Google parent company Alphabet.

Bloomberg, citing unnamed people "familiar with the matter," on Thursday reported that Alphabet has been talking with Lyft in recent weeks about making a "potential investment" in the rideshare company.

"An investment of about $1 billion in Lyft may come from Google or CapitalG, Alphabet's private-equity arm, said some of the people," Bloomberg reported.

This is not yet a done deal and the report notes it "may not come together," so we'll just have to wait and see what happens.

The news isn't all that surprising considering Alphabet's self-driving car unit Waymo in May announced a partnership with Lyft to bring autonomous vehicle technology to the masses.


"We're looking forward to working with Lyft to explore new self-driving products that will make our roads safer and transportation more accessible," a Waymo spokesperson said at the time. "Lyft's vision and commitment to improving the way cities move will help Waymo's self-driving technology reach more people, in more places."

News of this possible investment may deepen the rift between Alphabet and Uber. As Bloomberg pointed out, Alphabet is an Uber shareholder, though the companies' "relationship has deteriorated" as of late thanks to Waymo's very public legal battle with the ride-hailing service.

Meanwhile, Lyft has a number of other big-name investors in its corner, including Jaguar Land Rover and GM. The company earlier this year received $25 million from Jaguar Land Rover and last year nabbed $500 million from GM.

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