Alphabet's CaptialG is leading Lyft's $1 billion investment run

Lyft co-founder Logan Green CapitalG partner David Lawee and Lyft co-founder John Zimmer    

The first is a September report that claimed the company, which now only operates in the United States, has held a series of talks with London officials previous year.

Lyft just raised $1 billion in a funding round led by CapitalG, the investment arm of Alphabet.

Although Uber might have been first to market, Lyft is rapidly making a name for itself in the ride-sharing industry.

Lyft is still far smaller and worth far less than Uber, another privately held company based in San Francisco whose investors have valued it at almost $70 billion. "We're also excited to work with CapitalG Partner David Lawee, who is joining Lyft's Board". It was last valued at almost $70 billion. The company was reported to be raising a new $1 billion round, with Alphabet involved, back in September.

Alphabet, which is based in Mountain View, California, has also emerged as a thorn in Uber's side, even though Google was among Uber's early investors and still holds a stake in the company.

Alphabet's GV early investment fund invested early in Uber, which makes this more interesting. As Bloomberg pointed out, Alphabet is an Uber shareholder, though the companies' "relationship has deteriorated" as of late thanks to Waymo's very public legal battle with the ride-hailing service.

The news isn't all that surprising considering Alphabet's self-driving auto unit Waymo in May announced a partnership with Lyft to bring autonomous vehicle technology to the masses. However, with Uber and Waymo now at each others' necks, the relationship between Uber and Alphabet is likely pretty shaky. Those startups turned into the dominant players in their industries and countries. Lyft's new capital infusion follows a $600 million funding round in April.

This is a huge step for Lyft, and the fact that it's working this closely with Alphabet is truly fascinating.

Uber mulled acquiring Lyft back in 2014.

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