Google may invest $1 bn in Lyft

Google parent company Alphabet is in talks to invest around $1 billion in Lyft, according to published reports. The talks are being driven by top officials at Alphabet, according to Axios. The potential investment could come from either Google or from CapitalG, Alphabet's investment division, Bloomberg reported. 

It's unclear what division of Alphabet the investment would come from, either Google itself, or Capital G, one of Alphabet's investment arms.

The potential investment is notable because Waymo, Alphabet's self-driving car division, has been locked in a bitter legal battle with Lyft rival Uber since February. Waymo alleges Uber stole trade secrets when Anthony Levandowski, a former Google engineer, joined the ride-hailing company.

Compared with Uber, Lyft has long been the small dog in the ride-hailing world. It's received $2.6 billion in venture funding and is valued at $7.5 billion, whereas Uber has received $12.9 billion and is valued at $68 billion.

Over the past few months, though, Lyft has been gaining on its competitor. This is largely thanks to an endless slew of scandals coming out of Uber, which include everything from allegations of workplace sexual harassment to a chaotic company culture to its CEO Travis Kalanick being forced to step down. Uber's new CEO, Dara Khosrowshahi, is just finishing his second week at the helm.

Alphabet and Lyft declined to comment on the report.