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Google Parent Making Humongous Bet On Lyft

21 Octubre 2017

The funding is being led by CapitalG, Alphabet's growth investment fund, which also has also backed tech companies such as home-renting platform Airbnb and payments firm Stripe.

The investment represents a further complication in the tangled web of alliances in the sector.

It's a significant move, both in its sum and because of Alphabet's previous investment in Uber, through a separate investment arm, Google Ventures. It also claims to be available to 95% of the U.S. population, including state-wide coverage in 41 states.

With both Alphabet and Lyft researching self-driving car technology, the partnership makes sense for both sides. The companies declined to comment on what types of products would be brought to market as a result of it or when the public might see the fruits of the collaboration. General Motors president Dan Ammann also sits on Lyft's board. GM was, and remains, a Lyft investor.

Born out of that initial, exploratory relationship was Lyft's new self-driving strategy.

Adobe Systems Inc. stock hit record highs in Thursday's session, after the software company provided preliminary forecasts for its 2018 fiscal year Wednesday afternoon.

Google Parent Making Humongous Bet On Lyft