Alphabet invests $1 billion in Lyft
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Alphabet made a sizeable investment in ride-hailing service Lyft. Investment arm of Google-parent Alphabet, CapitalG, announced a $1 billion funding round for Lyft.
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Alphabet’s self-driving car unit, Waymo, confirmed earlier this year it would partner with Lyft on a self-driving car project. Lyft’s valuation is now $11 billion, which is still smaller than nearly $70 billion market leader Uber.