The parent company of Google has reportedly held talks to invest about $1 billion in the ride-sharing company, Bloomberg first reported the possible deal Friday.
The investment may come from Google or CapitalG, Alphabet's private-equity arm, people familiar told the publication, but there is no certainty of the deal.
If it comes to fruition the deal come be a sign that Alphabet is losing confidence in scandal-ridden Uber Technologies. Alphabet invested $258 million in Uber through its GV venture capital arm in 2013. However, tension has grown between the companies as Alphabet unit Waymo is suing Uber over self-driving car technology.
Alphabet shares closed at $940.13 on Thursday, after losing 1.08%.
The Wall Street Journal reported Thursday that Softbank Corp. SFTBY has held talks with both Uber and Lyft about possible investments. The Japanese company is reportedly nearing a deal with Uber to buy more than $10 billion in stock.
Lyft only operates in the U.S., and was last valued at about $7.5 billion. It has raised about $2.6 billion from investors including General Electric (GE) - Get General Electric Company (GE) Report and Alibaba Group Holding (BABA) - Get Alibaba Group Holding Ltd. Sponsored ADR Report . Uber was last valued at $68 billion.
More of What's Trending on TheStreet:
- John McAfee and Global Bitcoin Fans Challenge Jamie Dimon's 'Fraud' Comments
- Kiss Rocker Gene Simmons Gives Perfect Advice on How to Handle Bitcoin's Crash
- Whole Foods Is Amazon Prime's Secret Weapon
- Find Your Balance in Your 50s