Google could make a billion-dollar bet on Uber's biggest competitor

Lyft-branded car

Neither company would comment on the possible investment.

A potential $1 billion investment in Lyft Inc. would mark a new direction in Google's ride sharing strategy.

The two camps, Alphabet and Uber, do not live in harmony any more. As the San Francisco-based company has spent the past nine months grappling with scandal after scandal over its culture and business practices, competitors like Lyft and Ola have gained traction in key markets. Uber's last valuation put the company's worth at approximately $68 billion, indicating that SoftBank is looking to value it at closer to $45 billion if it's to go through with its investment. General Motors invested $500 million into Lyft in July 2016.

Jerry Sandusky's Son Pleads Guilty to Child Sex Abuse Charges
Sandusky told her "that it's not weird because he studied medicine", and that "nobody needs to know", police said. Jeffrey Sandusky , son of Jerry Sandusky , has pled guilty to all 14 counts of child sex abuse on Friday.

Ride hailing services have exploded on the scene the last couple of years with Uber and Lyft now the two largest in the U.S. The services link drivers with riders through an app online and prices for rides are much less expensive than normal taxi fare. Uber recently kicked out CEO Travis Kalanick and replaced him with Dara Khosrowshahi after slew of allegations of sexual harassment, sexism and other inappropriate behavior within the company. Reportedly, till now, Uber has received $12.9 billion in venture funding and is valued at $68 billion, while Lyft has received only $2.6 billion and is valued at $7.5 billion. Waymo, Alphabet's self-driving auto division, is battling Uber in court over alleged stolen trade secrets.

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. Previously, Google had invested a whopping $258 million in Uber via Google Ventures and now the company is suing Uber for, allegedly, stealing trade secrets from Google's self-driving vehicle company, Waymo. However, lesser-known ride-sharing apps are active in the province.

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