Lyft Raises $1 Billion in Round Led by Alphabet's CapitalG

Over the past year, Lyft has picked up market share in some key cities while into pushing into dozens of new U.S. markets, driven in part by carefully-crafted marketing that casts it as the friendlier alternative to Uber. Uber, meanwhile, has been beset by a series of troubling events, including sexual-harassment allegations, the resignation of longtime chief executive Travis Kalanick, a lawsuit between board members and several federal probes into its business operations. It only recently hired a new chief, former Expedia Inc. CEO Dara Khosrowshahi, who is tasked with filing the company's depleted executive ranks and is already dealing with a regulatory spat in London, one of its biggest markets. Uber is working to nail down a proposed investment from SoftBank that could total as much as $10 billion, including a direct investment of as much as $1.25 billion. On Monday at The Wall Street Journal's WSJD.Live conference, Uber board member Arianna Huffington said she expects the company will resolve the weekslong talks within days.