Lyft confirms $1B investment from Alphabet – CNET

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Lyft

Looks like Lyft could soon be appearing larger in Uber‘s rear-view mirror.

Confirming last month’s reports, the ride-hailing startup announced today that Google-parent Alphabet’s growth investment fund, CapitalG, is leading a $1 billion financing round. This brings Lyft’s valuation to $11 billion.

While Lyft isn’t as ubiquitous as its main competitor Uber, the company said it recently completed its 500 millionth ride and 95 percent of the US population now has access to the service, up from 54 percent earlier this year. It has yet to launch outside of the US.

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