{"id":11779,"date":"2017-10-20T15:33:01","date_gmt":"2017-10-20T15:33:01","guid":{"rendered":"http:\/\/www.bnreport.com\/google-parent-company-leads-1b-lyft-investment-deepening-uber-rift\/"},"modified":"2017-10-20T15:33:02","modified_gmt":"2017-10-20T15:33:02","slug":"google-parent-company-leads-1b-lyft-investment-deepening-uber-rift","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/google-parent-company-leads-1b-lyft-investment-deepening-uber-rift\/","title":{"rendered":"Google Parent Company Leads $1B Lyft Investment, Deepening Uber Rift"},"content":{"rendered":"<\/p>\n<h2>SAN FRANCISCO (AP) \u2014 Google\u2019s parent company is throwing its financial support behind ride-hailing service Lyft, deepening its rift with market leader Uber.<\/h2>\n<p>Alphabet Inc., which gets most of its money from Google\u2019s digital ad network, is leading a $1 billion investment in Lyft that values the privately held company at $11 billion. The <a href=\"https:\/\/blog.lyft.com\/posts\/alphabet-capitalg-leads-1-billion-round-in-lyft\" rel=\"noreferrer\" target=\"_blank\">investment announced Thursday<\/a> is being made through Alphabet\u2019s CapitalG venture capital arm.<\/p>\n<p>Lyft is still far smaller and worth far less than Uber, another privately held company based in San Francisco whose investors have valued it at nearly $70 billion.<\/p>\n<p>But Uber has been enmeshed in internal strife amid management upheaval and allegations of rampant sexual harassment that culminated in the departure of co-founder Travis Kalanick. Uber lured away Expedia\u2019s CEO, Dara Khosrowshahi, to replace Kalanick and clean up the mess.<\/p>\n<p>Lyft has seized on Uber\u2019s turmoil as an opportunity to gain ground on its rival in the rapidly growing ride-hailing market while expanding into more cities across the U.S. Its drivers\u2019 cars can now be summoned by 95 percent of the U.S. population, up from 54 percent at the beginning of this year.<\/p>\n<p>\u201cWhile we\u2019ve made great progress towards our vision, we\u2019re most excited about what lies ahead,\u201d Lyft President John Zimmer said in a statement.<\/p>\n<p>Alphabet, which is based in Mountain View, California, has also emerged as a thorn in Uber\u2019s side, even though Google was among Uber\u2019s early investors and still holds a stake in the company.<\/p>\n<p>Google\u2019s self-driving car spin-off <a href=\"https:\/\/apnews.com\/c9b264b573f8468daa419ca9813c350e\" rel=\"noreferrer\" target=\"_blank\">Waymo is suing Uber<\/a> in federal court, alleging that its former ally recruited some of its top engineers as part of an elaborate scheme to steal its trade secrets. The high-profile legal battle is scheduled to go to trial in early December and, if Waymo prevails, could cost Uber billions of dollars in damages and derail its efforts to build its own fleet of self-driving cars.<\/p>\n<p>The falling out dates back to last year when Kalanick became convinced that Waymo intended to deploy its robotic cars in a rival ride-hailing service. Those tensions prompted one of Google\u2019s top executives, David Drummond, to resign from Uber\u2019s board last year. Shortly after Drummond stepped down, Google\u2019s mapping service, Waze, began to <a href=\"https:\/\/apnews.com\/b5ff1285dc5c417fa335ac62ad0ee697\" rel=\"noreferrer\" target=\"_blank\">expand a carpooling program<\/a> that could eventually draw riders away from Uber.<\/p>\n<p>Earlier this year, Waymo and Lyft <a href=\"https:\/\/apnews.com\/601164c148e846dc91b705b485394b73\" rel=\"noreferrer\" target=\"_blank\">formed a partnership<\/a> to begin testing self-driving cars on the roads in a move that was widely seen as another attack on Uber.<!--more--><\/p>\n<p>Now that Lyft is growing even closer to the Alphabet family with the $1 billion investment, it is giving one of the seats on its board of directors to a CapitalG partner \u2014 David Lawee.<\/p>\n<p><strong><a href=\"https:\/\/blockads.fivefilters.org\/\" rel=\"noreferrer\" target=\"_blank\">Let&#039;s block ads!<\/a><\/strong> <a href=\"https:\/\/blockads.fivefilters.org\/acceptable.html\" rel=\"noreferrer\" target=\"_blank\">(Why?)<\/a><\/p>\n<p><a href=\"http:\/\/www.breitbart.com\/tech\/2017\/10\/20\/google-parent-company-leads-1b-lyft-investment-deepening-uber-rift\/\" rel=\"noreferrer\" target=\"_blank\"><\/a>Original Article<\/p>\n<div id=\"contfix\">\n<div id=\"contdto\">         <img decoding=\"async\" src=\"http:\/\/www.bnreport.com\/wp-content\/uploads\/2017\/10\/BB-logo-highres-152.jpg\"\/> <\/p>\n<h4 id=\"contfixlink\"><a href=\"http:\/\/www.breitbart.com\/\" rel=\"noreferrer\" target=\"_blank\">Breitbart<\/a><\/h4>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>SAN FRANCISCO (AP) \u2014 Google\u2019s parent company is throwing its..<\/p>\n","protected":false},"author":1,"featured_media":11780,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[50],"tags":[],"class_list":["post-11779","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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