Alphabet tipped in talks with Lyft over possible $1b investment

The GM logo is seen at the General Motors Lansing Grand River Assembly Plant in Lansing

The GM logo is seen at the General Motors Lansing Grand River Assembly Plant in Lansing Michigan

The potential investment could come either from Google or from CapitalG, Alphabet's investment division, Bloomberg reported.

Lyft already has a collaboration with Alphabet through the company's Waymo division. Waymo is also in the midst of a lawsuit against Uber Technologies, Lyft's largest competitor, over allegedly stolen self-driving auto technology. Lyft and Waymo both confirmed back in May that the two will be combining efforts to create self driving vehicles. Waymo is now stepping up its efforts to compete with Uber in autonomous driving: CEO John Krafcik recently said the company will not only look at autonomous ride-sharing, but also autonomous trucking, a field Uber previously had nearly to itself. This was evident when the company offered promotional code for a Lyft ride for the upcoming Pixel 2 launch event.

It was not immediately clear how large an investment Alphabet might make. Alphabet and Lyft declined to comment.

However, Lyft could come as a welcomed addition to Canadian streets, as it's not only known for being a safer ride-share option but also for the treatment of its drivers.

It's unclear which part of Alphabet is leading the talks, as the company has multiple investment arms.

A $1 billion investment from Alphabet will assure that Lyft would remain independent for the near future, though it could also mean that Google's parent is building the foundation for a possible acquisition.

Ahead of Lyft are Uber, which has raised $15.1 billion with a current valuation of $68 billion; Didi Chuxing, which has raised $14.1 billion; and Singaporean ride sharing company Grab, which has raised $3.44 billion.

Uber appointed a new chief executive, former Expedia CEO Dara Khosrowshahi, in late August after a string of scandals.

In San Francisco, the company has expanded its shuttle service with a total eight routes, and it has six sroutes in Chicago.

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