Amid its fiery legal battle with Uber, Google is reportedly in talks to make a $1 billion investment in competing ride-sharing service Lyft. According to a pair of reports from Axios and Bloomberg, the move is being driven by top-level executives, including Larry Page.
It’s unclear at this point what division inside Google would make the investment as it has several applicable teams. Bloomberg says the investment may come from Google or CapitalG, which is Alphabet’s private-equity arm.
Alphabet is already a shareholder in Uber through its GV capital arm, but Waymo is currently knee-deep in a legal battle with Uber over allegations of stolen self-driving car technology.
Bloomberg explains that the $1 billion would allow Lyft to remain independent, a concern voiced by the company’s CEO:
With an extra $1 billion, Lyft would be able to ensure its independence for the near future, something co-founder John Zimmer has said is a priority. But some investors have suggested Alphabet would be a natural home for the ride-hailing startup. Lyft held informal talks with Alphabet and other potential acquirers last year but didn’t pursue a sale.
Alphabet’s Waymo reached a deal with Uber earlier this year to help bring self-driving cars into the mainstream. The move was largely seen a shun towards Uber, and this $1 billion investments certainly seems like another on the part of Google.
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