Google leads $1B investment in Lyft

Lyft announced on Thursday that it has raised $1 billion in a financing round lead by Capital G, the investing arm of Google-parent Alphabet.

Capital G partner David Lawee is also joining Lyft’s board.

The latest funding round puts the ride hailing company’s value at $11 billion.

In the investment announcement, Lyft also said that over the past year, it has grown from being available to 54 percent of the US population to 95 percent.

With both Alphabet and Lyft researching self-driving car technology, the partnership makes sense for both sides. And with both companies claiming Uber as a common enemy, teaming up is the next logical step.


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