Lyft, the ride-hailing startup, raised $1 billion in fresh financing, led by Alphabet's (GOOG) venture capital arm CapitalG, as it aims for a potential initial public offering next year.
The investment in Lyft on the part of Google's parent underscores the complex and often confusing nature of partnerships between ride sharing, technology, and traditional automotive companies. The rumors have turned out to be true.
This latest investment brings Lyft's post-money valuation to $11bn, and comes just seven months after its last funding round, which brought in $600m in April.
This isn't surprising at all.
It's not like Google hasn't invested in Uber as well. It was formerly a Google's self-driving vehicle project and now is operating under the Alphabet. Not to forget that Alphabet also owns Waymo.
Alphabet is clearly interested in self-driving cars. Waymo and Lyft also aren't complete strangers given that they had earlier announced plans to explore options to develop self-driving cars. The company poured almost $250 million in Uber back in 2013.
Damage bill for California fires hit $1.3m When adjusted for inflation, the Oakland Hills fire is believed the costliest fire in California history at $2.8 billion. Additionally, authorities say almost 7,000 homes and structures have been destroyed in the wildfires.
Now that Google and Uber are locked in a fierce legal battle that could effectively cripple Uber's dreams of having a fleet of driverless vehicles, Lyft has a real chance of cornering the United States market.
Waymo and Uber are involved in a legal dispute as Waymo alleges that Uber is using its trade secrets for its self-driving auto sensors.
But while the stake in Uber is worth a lot more than the stake in Lyft, the two companies have an increasingly frosty relationship, based largely on a fractious court case concerning stolen self-driving auto technology.
According to two people briefed on the discussion, Lyft has been in talks with investment banks about an IPO next year.
According to Lyft, this year saw the service complete its 500 millionth ride, and it is now available to 95 per cent of the USA population, up from 54 per cent at the beginning of the year. However, the relationship between the two companies started as far back as May of this year.
Building collapses are common in India, and are largely caused by shoddy construction materials or lax oversight of regulations. In September, four people died and seven injured when the concrete roof of a bus stand in Coimbatore collapsed.
The other high-flying FAANG stocks - Amazon, Facebook , Alphabet and Netflix - were down about 1 percent. Technology companies and banks are leading USA stocks slightly lower in early trading on Wall Street.
Several large investors have recently added to or reduced their stakes in JPM . 43 funds opened positions while 95 raised stakes. State Of Tennessee Treasury Department holds 0.01% of its portfolio in RenaissanceRe Holdings Ltd. (NYSE:RNR) for 15,000 shares.
In a transaction dated August 15, 2017, the shares were put up for sale at an average price of $92.04, raking in a sum of $77,130. Zacks Investment Research lowered Procter & Gamble Company (The) from a "buy" rating to a "hold" rating in a report on Wednesday.
This is a very different opinion than the one held by the majority of National Basketball Association general managers. Westbrook, the NBA MVP last season when he averaged a triple-double, had with 21 points, 16 assists and 10 rebounds.
He can be a bully.' And so I exchanged contacts with him in the hopes that I would be of consideration for one of his projects. They ordered drinks and starters, but before the appetizers arrived he suggested they take the rest of their meal to his room.
Tim Scott, R-S.C., White House chief economic director Gary Cohn, Sen. "Everybody is in trouble if we don't get tax reform done". It was a reference to Trump's refusal to release his tax returns, as past presidents and presidential candidates have done.
If Butler can jell with Wiggins and KAT early, it could be a very long season for anyone with Minnesota on their schedule. The Spurs will be without their top defensive stopper in Kawhi Leonard for a few games to start the season.
Mrs May told them: "We must work together to get to an outcome we can stand behind and defend to our people". Merkel said the three had been discussing the need to safeguard the Iran nuclear deal after U.S.
Razer's Blade Stealth ultrabook is now more powerful
Internally, the new Core has been restructured to make more room for graphics cards that are taller than the expansion slot. The aluminum design remains, along with the drawer-like mechanism that houses the GPU.
Aaron Rodgers sends out positive message following surgery
If he is placed on the injured list, he would be out for a minimum of two months. "My focus is on Aaron's health right now". The Packers have Super Bowl aspirations every year that he's behind center, and now that's all gone thanks to one hit.
No Christmas Eve Fixtures For English Top Flight
Leicester's Christmas TV encounter with Manchester United will not be played on December 24 but is being moved to a late kick-off. There will be a lunchtime game on Boxing Day, with Southampton's trip to Tottenham beginning at 12:30 GMT.
De Villiers, Hasan Ali and Hafeez the new No. 1s
India had claimed the top spot in the ICC rankings following their 4-1 win against Steve Smith-led Australian side. As far as the batsman rankings go, Virat Kohli and David Warner round off the top three along with De Villiers.
Five killed as SUV plows into crowd in Ukraine's Kharkiv
Vans, cars and trucks have been used as weapons for terror attacks in London, Berlin, Nice, France and other European cities. Three of the dead have been named as Elena Berchenko , aged 25, Yury Neudachin , 24, and Oksana Nesterenko , 36.
The Muslim Ban Loses in Court Again
The ban forsakes the rules Congress has laid down and attempts to create a new immigration system of the president's own design. Watson also said the ban "contains internal incoherencies that markedly undermine its stated "national security" rationale".