Alphabet's Capital G invests $1B in Lyft

Lyft operates along the Puget Sound from Tacoma to Arlington as well as Bellingham Wenatchee and Spokane

Alphabet invested in Lyft through CapitalG, its growth equity investment arm.

Lyft and Alphabet already have a relationship through a partnership Lyft struck with Waymo, Alphabet's self-driving auto unit, in May.

The falling out dates back to past year when Kalanick became convinced that Waymo meant to deploy its robotic cars in a rival ride-hailing service. As Bloomberg pointed out, Alphabet is an Uber shareholder, though the companies' "relationship has deteriorated" as of late thanks to Waymo's very public legal battle with the ride-hailing service.

The investment from Alphabet could provide a boost to Lyft as its battles Uber for market share in the USA and would also enable Lyft to ensure its independence for the near future.

Lyft remains a distant second to Uber, both in terms of market share and valuation. Lawee was formerly Google's VP of corporate development.

Lyft said the new funding gives it a valuation of $11 billion as it steps up competition against Uber, reeling from a series of missteps and scandals which have forced out its founder and chief executive.

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News of this possible investment may deepen the rift between Alphabet and Uber.

Those obstacles have taken their toll: while Uber has been valued as high as $70 billion, that number could fluctuate pending an investment deal with SoftBank, the Japanese conglomerate that's been eying a major stake in Uber.

The new investment creates a potential conflict for Alphabet, which was one of the early investors in Uber. "The fact remains that less than 0.5% of miles traveled in the USA happen on rideshare networks", said the company in its post. Alphabet's interest makes sense if we stop thinking about Lyft as a ride sharing service and more of a self-driving auto company.

The deals come as Waymo accuses Uber of using autonomous technology that allegedly was stolen by an ex-Google engineer. Those tensions prompted one of Google's top executives, David Drummond, to resign from Uber's board past year.

Google has chose to take a Lyft.

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