Alphabet considering $1 billion investment with Lyft

According to Bloomberg, Alphabet Inc. (NASDAQ: GOOGL) has met with Lyft Inc. to talk about potential investments into the ride hailing company, showing support over Uber Technologies Inc., according to sources familiar with the matter.

Sources say that the possible $1 billion investment may come from Google of CapitalG, but there is no confirmation on whether the deal will be completed or not. Alphabet and Lyft both declined to comment on the subject.

Lyft already has a collaboration with Alphabet through the company’s Waymo division. Lyft and Waymo both confirmed back in May that the two will be combining efforts to create self driving vehicles.

Waymo, has already been previously battling Uber for the completion of autonomous vehicles and has even sued Uber for the technology. Lyft is also in a competition against Uber for the title as the top ride hailing service.

Although Waymo has been in a competition against Uber, Alphabet is an Uber shareholder through its GV venture capital branch.

Throughout the year, Lyft has claimed its position as the dominating ride hailing service, as its competitor Uber fell off the radar. Uber sales have slipped throughout the year from lawsuits, former CEO Travis Kalanick stepping down, probing into competitors, and evading government regulations and officials.

If Lyft receives the investment by Alphabet, this would blow Lyft even further ahead of Uber than it already was. It would allow the company to expand its technology and services. Also with the investment, it could allow Lyft to become independent, which was co-founder, John Zimmer’s, priority for the company. But others say that Alphabet will end up acquiring Lyft. There were talks previously about a potential acquisition, but it did not go into an agreement.

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