FILE - This Wednesday, April 26, 2017 file photo shows the Google mobile phone icon, in Philadelphia. Alphabet Inc., parent company of Google, reports financial results, Thursday, April 27, 2017. Alphabet's stock is surpassing the $1,000 mark for the first time, less than a week after Amazon reached the same milestone. Shares of Alphabet Inc., based in Mountain View, California, gained $6.05 to $1,002.17
You didn't think Silicon Valley's biggest names would stand on the sidelines while the electric scooter trend continued to grow, did you? The Financial Times sources have learned that Alphabet has invested directly in scooter service Lime as part of a larger $300 million funding round that already included Google Ventures. There's no mention of how much cash was heading Lime's way, but GV was reportedly leading the group, and Alphabet put in a similar amount -- there's a lot of money involved. It's not certain why Alphabet is so heavily involved (all the parties involved have declined to comment). However, it would reflect Alphabet's growing interest in transportation as it moves beyond the internet and mobile businesses that are its lifeblood.
Last month, we reported on rumors that Alphabet, Google's parent company, was considering investing in Lyft. Now, Lyft has announced that CapitalG, which is Alphabet's growth investment fund, is leading a $1 billion financing round in the car-sharing company. This brings Lyft's total valuation to $11 billion.
When management upheaval, allegations of corporate espionage, and revelations of sexual harassment sent Uber into a public relations sinkhole, its long overshadowed rival Lyft shifted into overdrive. Lyft's new Amp device sits on the dashboard of a vehicle, replacing the company's signature pink Glowstache. SAN FRANCISCO -- Lyft isn't the first company most people think of when it comes to hailing a ride. But its larger rival Uber could really be in for a drag race if a reported $1 billion investment by Google-parent Alphabet comes to pass. Bloomberg's story late Thursday cited unnamed sources.
Google co-founder Larry Page is privately funding two flying-car companies, according to two people familiar with the firms, the latest example of the tech executive's ambitious efforts outside of internet search. Mr. Page owns Zee.Aero Inc., some of whose roughly 150 employees test prototype aircraft in rural California, and a smaller startup dubbed Kitty Hawk that is developing its own design for a flying car, one person said.