×

Alphabet is talking about investing up to $1 billion in Lyft, say reports

  • Alphabet is in talks to invest roughly $1 billion in Lyft, according to Bloomberg.
  • Google was an early investor in Lyft's rival, Uber.
  • Lyft has raised over $2.5 billion in funding so far.
John Zimmer
Patrick T. Fallon | Bloomberg | Getty Images
John Zimmer

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

It's unclear which part of Alphabet is leading the talks, as the company has multiple investment arms.

Axios separately reported that "top-level company executives like Alphabet CEO Larry Page" are driving the negotiation. Axios reporter Dan Primack tweeted that the conversations began about a month ago:

Alphabet has previously invested in Lyft's rival, Uber, but that relationship has soured lately. Alphabet's self-driving car unit, Waymo, has sued Uber claiming that an engineer who left Waymo for Uber stole and shared proprietary information.

Alphabet and Lyft declined to comment on the report.

Lyft has raised over $2.5 billion so far. The ride-hailing company most recently raised $600 million in April 2017.

Read the Bloomberg report here.