Alphabet reportedly considers a $1 billion Lyft investment

Larry Page

Larry Page

On the off chance that the reports about the Alphabet's planning are valid, at that point, Lyft is by all accounts chilling off on its prior explanation, in which it said that there would be no new round of raising money before its IPO, details Reuters.

The word is that the investment in Lyft is being driven by top-level executives, including Alphabet's Larry Page. Google's relationship with Uber has continued its downward spiral for a while now, with Google pumping $258 million into Uber - and is now suing the ride-sharing giant as Uber allegedly stole thousands of plans from Google's self-driving company, Waymo. Lyft is the arch-rival of Uber, which is involved in an ongoing legal tussle with Google spin-off Waymo; thus, it makes sense for Alphabet to invest in Lyft. In May, Waymo and Lyft announced they were working together on testing self-driving taxis. Interestingly, Alphabet also holds a stake in Uber through its GV venture capital arm. The round valued the company at $7.5 billion, up from $5.5 billion at Lyft's previous financing more than a year earlier. Vancouver could be a challenge, given the fact that it is situated in British Columbia, the province which does not allow any ride-sharing services to operate.

Coffee and tea may reduce death risk in diabetic women
Type 2 diabetes is linked to obesity and rates of the disease are soaring around the world. More than 4 million Britons are thought to have type two diabetes, Diabetes UK reports.

Google and Lyft declined to comment for this story. But others say that Alphabet will end up acquiring Lyft. If such a deal goes through, though, it could be a major boost for Lyft, which has always been a distant No. 2 to Uber in size and in war chest. Either way, this can't be good news for Uber. The FBI is also reportedly investigating whether Uber created software, dubbed Hell, to illegally track the location and rates charged by Lyft drivers.

With an extra $1 billion to play with, Lyft could suddenly find itself in a position to embark on an even more ambitious growth program.

Drexel Hamilton Believes Oracle Corp (NYSE: ORCL) Won't Stop Here
Following the transaction, the director now directly owns 52,654 shares of the company's stock, valued at $2,038,762.88. Following the release of the earnings report, the stock was up 1.5% at $53.60 in the after-hours trading session.

It goes without saying that the autonomous driving space will see a spate of innovations in the next few years, both by technology companies and automakers, as well as by smaller startups.

Trump's America will be a 'steadfast' ally to Britain during Brexit, Secretary of State Rex Tillerson vows after talks with Boris Johnson on worldwide security
Security Council, and the council this week approved new sanctions to punish North Korea's latest nuclear test explosion. This morning's talks focused on the worldwide threat from North Korea and Iran acquiring nuclear weapons.

Recommended News

  • This is when women lose interest in sex

    This is when women lose interest in sex

    Other reasons which killed the desire to have sex included poor physical and mental health or if the partner has STD. Women are more likely than men to lose interest in sex with their longtime partners, according to a new study .
    Colorado Among Ten Worldwide Locations Selected For Hyperloop Transportation Viability Study

    Colorado Among Ten Worldwide Locations Selected For Hyperloop Transportation Viability Study

    A direct Cheyenne-to-Pueblo route was announced as a semi-finalist and a Cheyenne-to-Houston route was a finalist. Out of the 10 selected finalist chosen, 3 loops will be built by the company by 2021.
    When and How to Pre-Order the iPhone 8 and 8 Plus

    When and How to Pre-Order the iPhone 8 and 8 Plus

    It's worth noting that it wasn't just average Joes who balked at the iPhone X's $1,000 price tag, either. Pre-ordering starts on Friday, with Apple TV 4K arriving in stores on September 22.
  • Nokia 8 will launch globally this month

    Nokia 8 will launch globally this month

    The phone would offer nearly all types of connectivity options on the phone to connect the device with the web or other devices. The Nokia 8 is the company's much awaited flagship device, which comes with a unique Bothie camera feature as its highlight.
    Video to come out of 1st fatal NYPD shooting since bodycams

    Video to come out of 1st fatal NYPD shooting since bodycams

    Richards pointed his fake gun with a laser pointer at the officers, who fire both the stun gun and their weapons. In total, the department released seven videos as well as a 17-minute compilation of all of the videos.
    Trump denies 'deal' with Democrats on young immigrants, DACA

    Trump denies 'deal' with Democrats on young immigrants, DACA

    DACA has given almost 800,000 young people protection from deportation and the right to work legally in the country. After he landed in Florida, he declared repeatedly, "If we don't have a wall, we're doing nothing".
  • Marriage survey mailout ahead of schedule

    Marriage survey mailout ahead of schedule

    Both sides of the debate fired the starting guns on Thursday afternoon, promising to run respectful campaigns. You think some people are beneath having rights that you personally enjoy.
    Baby Named Storm Born as Hurricane Irma Approaches Miami

    Baby Named Storm Born as Hurricane Irma Approaches Miami

    The courageous new mum gave birth to a healthy baby girl as Irma grounded emergency services across Miami . The family was safely transported to the Women's Hospital at Jackson Memorial around 8 a.m.
    Cowboys Ezekiel Elliott looking to make National Football League  history Sunday

    Cowboys Ezekiel Elliott looking to make National Football League history Sunday

    Prescott is a smart player surrounded by a terrific runner, a collection of quality receivers and the game's best offensive line. The unit looked just as good without defensive coordinator Wade Phillips, holding Philip Rivers to less than 200 passing yards.
  • Virender Sehwag, Vijender Singh propagate Hindi Diwas

    Virender Sehwag, Vijender Singh propagate Hindi Diwas

    Then why people hesitate to speak Hindi? "Hindi may be just one language but Hindi is my mother tongue". "People are increasingly learning Hindi overseas ".
    Eagles still need work on ground game

    Eagles still need work on ground game

    At 34, Darren Sproles is still an elite pass-catching specialist, but he doesn't carry the ball often due to his size and age. LeGarrette Blount , who was brought in as a short-yardage and goal-line weapon, was ineffective in short-yardage situations.

    U.S. citizen-turned-ISIS fighter captured in Syria

    A spokeswoman for the Department of Justice did not have an immediate comment when reached by phone Thursday. The officials did not give the exact location of the surrender nor the current location of the American.

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.