Google's parent company to invest in Lyft: media

Source: Xinhua| 2017-09-16 04:13:53|Editor: Mu Xuequan
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WASHINGTON, Sept. 15 (Xinhua) -- Alphabet, Google's parent company, is in discussion with the ride-hailing company Lyft about a possible 1 billion U.S. dollars investment, said U.S. media reports.

Alphabet's self-driving car unit Waymo announced a partnership with Lyft to develop self-driving technology together in May, according to a Bloomberg report.

The possible new investment might not only enhance the two U.S. companies' cooperation in self-driving technology, but also give a boost to the No.2 ride provider in its battles against Uber.

It is reported that the deal might be as large as 1 billion U.S. dollars.

Lyft raised 600 million U.S. dollars in April from global investment funds, raising its value to 7.5 billion U.S. dollars.

Lyft announced in August that its service was available in 40 states in the United States, covering 94 percent of the country's population.

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