Ride-hailing start-up Lyft has a big new investor: Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL).
Lyft announced on Thursday that CapitalG, Alphabet’s investment fund, is leading a $1 billion financing round for Lyft. The move follows an agreement made in May between Lyft and Alphabet’s self-driving subsidiary Waymo to work together on the development of autonomous-vehicle technology.