Lyft Raises $1 Billion in Round Led by Alphabet's CapitalG

Lyft has more self-driving partnerships than Uber

Lyft has more self-driving partnerships than Uber

Meanwhile, Uber Technologies is trying to recover from a slew of controversies, including the taxi app being stripped of its London licence.

The investment represents a further complication in the tangled web of alliances in the sector. David Drummond, Alphabet's chief legal officer, eventually stepped off Uber's board. Waymo is also competing fiercely with Uber in the creation of technology for autonomous cars and is embroiled in a lawsuit over what it says is Uber's use of stolen Waymo trade secrets to develop such technology. CapitalG partner David Lawee will also join Lyft's board as part of the transaction.

"Earlier this month, Lyft completed 500 millionth ride and service is now available to 95% of the U.S. population â€" up from 54% at the beginning of the year. General Motors president Dan Ammann also sits on Lyft's board. Lyft has also partnered with GM, Ford, Jaguar, and other companies in its self-driving car endeavors.

Born out of that initial, exploratory relationship was Lyft's new self-driving strategy.

The investment raises questions because Google was an early investor in Uber, dropping around $250 million into the Lyft competitor in 2013.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.