Alphabet is in discussions with Lyft about a possible investment in the ride-hailing company, potentially deepening an existing partnership between the two firms. Fred Katayama reports.
Alphabet is talking to Lyft about investing in the ride-hailing company. It's not clear how much money Google's parent is planning to lay out. Bloomberg reported it could be a $1 billion deal. Alphabet and Lyft declined to comment. Kelley Blue Book's Akshay Anand says the partnership would make sense. (SOUNDBITE) AKSHAY ANAND, EXECUTIVE ANALYST, KELLEY BLUE BOOK (ENGLISH) SAYING: "If you're a Lyft, if you are an Uber, if you're a service out there that offers ride-sharing, it's not a secret that, eventually, these ride-sharing services want autonomous vehicles. They want driverless cars. It helps them with their costs, we know sometimes there are issues between drivers and passengers here and there, so we know that this is something that the Lyfts and the Ubers of the world want. From Alphabet's perspective, this gives you potential steady fleet of self-driving vehicles." In May, Alphabet's self-driving car unit Waymo and Lyft announced a partnership to work together on developing self-driving technology. Alphabet has a stake in rival Uber,but it sued the ride sharing company for allegedly stealing secrets on autonomous technology.