TECHNOLOGY

Uber rival Lyft says Alphabet leads latest $1 bln round of funding

An illuminated sign appears in a Lyft ride-hailing car in Los Angeles, California, US. (Reuters)

Uber rival Lyft said on Thursday Capital G, the growth investment fund of Google parent company Alphabet Inc, led a $1 billion round of financing, boosting the valuation of the ride-hailing service to $11 billion.


The company already received an investment from GM but it looks like Lyft is shifting more to Alphabet, which has its own autonomous car development platform Waymo.

Lyft also said that CapitalG partner David Lawee will be joining the company’s board.
 

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Last Update: Thursday, 19 October 2017 KSA 19:46 - GMT 16:46
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