Skellig Gra
Member
Very interesting move by Google. I pretty much exclusively use Lyft now after all the horrible stuff Uber has done. Their growth across the country has been impressive.
http://www.denverpost.com/2017/10/19/alphabet-inc-google-1-billion-investment-lyft-uber/
Googles parent company is throwing its financial support behind ride-hailing service Lyft, deepening its rift with market leader Uber.
Alphabet Inc., which gets most of its money from Googles digital ad network, is leading a $1 billion investment in Lyft that values the privately held company at $11 billion. The investment announced Thursday is being made through Alphabets CapitalG venture capital arm.
Lyft is still far smaller and worth far less than Uber, another privately held company based in San Francisco whose investors have valued it at nearly $70 billion.
But Uber has been enmeshed in internal strife amid management upheaval and allegations of rampant sexual harassment that culminated in the departure of co-founder Travis Kalanick. Uber lured away Expedias CEO, Dara Khosrowshahi, to replace Kalanick and clean up the mess.
Lyft has seized on Ubers turmoil as an opportunity to gain ground on its rival in the rapidly growing ride-hailing market while expanding into more cities across the U.S. Its drivers cars can now be summoned by 95 percent of the U.S. population, up from 54 percent at the beginning of this year.
http://www.denverpost.com/2017/10/19/alphabet-inc-google-1-billion-investment-lyft-uber/