Bloomberg reports that representatives from Alphabet, Google’s parent company, and from Lyft have met to discuss a potential USD 1 billion investment in the ride-sharing and technologies company. Lyft is Uber’s main rival in the United States, but recent controversies surrounding the latter company may provide an opportunity for Lyft to gain a better market position.
Alphabet has also invested into Uber through its GV venture capital arm, but Waymo, a unit of Alphabet, is currently suing Uber over self-driving car technology. Since then, the relationship has deteriorated and Waymo reached out to main rival, Lyft to work together on testing autonomous vehicles.
If it becomes reality, the USD 1 billion investment could help the ride-sharing company pursue a more aggressive growth campaign. The company has also launched its own self-driving division to develop autonomous vehicle technology.
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