Google’ parent organization Alphabet has been reportedly planning for an investment in Lyft, about One Billion US Dollars. According to the reports, some of the Alphabet-guys who have dealt with sources not to disclose their identities have exposed the latest move from Alphabet Inc.
In case you don’t know, Lyft is an American transportation based startup firm, provides on-demand rides. Unlike the Uber, every ride is either shared or just self-driven from Lyft.
Alphabet’s Waymo has just reportedly discussed with Lyft executives regarding an investment of $1 Billion, must be raising the fund from capitalG say reports. Lyft would be spending the expenditure in marketing and development.
It is no surprise that the Alphabet move closer to the Lyft, as many earlier reports have claimed that the Google’s parent company had been moving away from the Uber’s partnership. There were no official words about the earlier news, but it was clear that the Internet giant’s autonomous vehicle developing branch Waymo has gotten some clash with Uber regarding the autonomous vehicle development. Interestingly, new reports hint to a driverless car developing and ride generating by the Waymo incorporation with the Lyft. There are many other corollary reasons that we can just assume. Lyft has an icrease in their market hold from last one year, whereas Uber dropped a little due to several complaints and followed probes.