Google parent Alphabet is reportedly talking to rideshare services provider Lyft about investing in the firm, reports say.
Bloomberg has reported that there is discussion of a USD1bn deal. An investment from Alphabet could provide a boost to Lyft as its battles Uber for market share in the US. The cash could allow Lyft to pursue more aggressive growth with subsidies for drivers, discounts for riders and increased marketing.
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Earlier this year Alphabet’s self-driving car unit Waymo and Lyft announced a partnership to work together on developing self-driving technology.
Lyft raised US$600m in funding in April and the company is expanding operations in the US.
Reports say that more investment in the company may put back plans for an IPO.
Reuters notes that Alphabet has been an investor in Uber through its venture capital arm, GV, since 2013. However, Alphabet’s self-driving car unit Waymo is currently suing Uber for alleged use of stolen Waymo trade secrets to develop Uber’s self-driving technology.
See also: GM partners with Uber, as well as Lyft
