Alphabet to invest USD1 billion in Uber’s rival, Lyft


Lyft, Uber’s biggest competitor in the western region might be getting close to USD1 billion investment to its kitty.

According to unnamed sources cited by Bloomberg, Alphabet Inc., Google’s parent might be taking the bet anytime soon.

The fund is said to be invested through Capital G, Alphabet’s venture capital unit.

As a brief background, Alphabet has also invested in Uber through Google Ventures. The likelihood of the Lyft bet will see Alphabet having a substantial stake into competing ride-hailing startups.

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