Alphabet Inc has held conversations with Lyft Inc about a potential investment in recent weeks, signaling strong support for Uber Technologies Inc’s main US competitor, people familiar with the matter said.
An investment of about US$1 billion in Lyft might come from Google or CapitalG, Alphabet’s private-equity arm, said some of the people, who asked not to be identified because the discussions are private.
A deal might not eventuate.
Alphabet and Lyft declined to comment.
Alphabet is also an Uber shareholder through its GV venture capital arm, but Waymo, a unit of Alphabet, is suing Uber over self-driving car technology.
As the relationship has deteriorated, Waymo signed a partnership with Lyft to work together on testing autonomous vehicles.
While Lyft has recently focused on controlling spending, the cash would allow the San Francisco-based start-up to pursue more aggressive growth with subsidies for drivers, discounts for riders and marketing.
Lyft began a major television campaign this month that stars Jeff Bridges.
With an extra US$1 billion, Lyft would be able to ensure its independence for the near future, something cofounder John Zimmer has said is a priority.
However, some investors have suggested Alphabet would be a natural home for the ride-hailing start-up.
Lyft held informal talks with Alphabet and other potential acquirers last year, but did not pursue a sale.
Lyft has gained market share this year as Uber has bent under a series of self-inflicted scandals.
Uber, which faces at least three US probes and several lawsuits, is advancing on an investment from Softbank Group Corp and others of as much as US$12 billion.
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