Sunday, September 17, 2017

Alphabet Invest Fund US $ 1 Billion to Lyft

Lyft
Google's parent company, Alphabet, is reportedly in the process of investing in an online transportation company, Lyft. According to sources, Alphabet will invest approximately US $ 1 billion.

Fund investment from this Alphabet will make Lyft as the number two online transportation provider and make the competition tighter with Uber who is the main competitor. Alphabet and Lyft declined to comment on the report on this investment plan.

Alphabet's investment will strengthen the relationship between the two companies. Alphabet's smart car business unit, Waymo and Lyft in May announced the joint development of autonomos car technology. However, they did not provide details about the cooperation.


Lyft itself is currently in the process of expansion. The company, founded in five years, announced in August that its service is available in 40 US states, covering 94 percent of the country's population.

Lyft succeeded in getting a fresh US $ 600 million injection in April 2017, most of which comes from global investment funds. The investment makes the company worth US $ 7.5 billion.


Additional investments can make Lyft immediately slaughter on the exchange. According to sources, Lyft expects to hold an Initial Public Offering (IPO) in 2018.

On the other hand, the Alphabet investment in Lyft will further strengthen the company's move in the transportation industry. Alphabet since 2013 has been an investor in Uber through its venture capital vehicle, GV. However, the relationship is getting more complicated when Waymo sues Uber for allegedly stealing the company's trade secrets.

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