Lyft Picks Up $1 Billion with Help from the Capital G

No need to spell it out if you can just use Alphabet. The Big G’s CapitalG investment fund helped Lyft raise $1 billion in new funds. With the latest boosts, Lyft says its valuation has increased from $7.5 billion to $11 billion.

Talk about cashing in the Gs. If you’re thinking that we just shared another major Alphabet or Lyft partnership, you’re right. Lyft has a partnership with Waymo, Alphabet’s self-driving car unit, but Alphabet has previously invested in Uber. Lyft also has a separate partnership with GM, and Waymo is now suing Uber. If you’re also thinking that this seems convoluted, you’re right again.

To read the story from Reuters, click here.