The new funding round gives Lyft a cash infusion to compete with Uber, which has been reeling from a series of scandals and executive turnover in 2017.
Alphabet also has ties to Uber through its second investment arm, GV, which backs young startups.
Those obstacles have taken their toll: while Uber has been valued as high as $70 billion, that number could fluctuate pending an investment deal with SoftBank, the Japanese conglomerate that's been eying a major stake in Uber.
U.S. not ruling out direct talks with Pyongang
But Sullivan warned that the US and its allies must be prepared for the worst in case diplomacy failed. The diplomats, who also gathered in Tokyo on Tuesday, were expected to discuss a number of issues.
Earlier this year, Waymo and Lyft formed a partnership to begin testing self-driving cars on the roads in a move that was widely seen as another attack on Uber. Back in 2013, Google Ventures (which is separate from CapitalG and is now just called "GV") made its largest investment ever-$258 million-in Uber as Alphabet chief legal officer David Drummond joined the Uber board. This brings Lyft's post-money valuation to $11 billion. Now, Lyft has announced that CapitalG, which is Alphabet's growth investment fund, is leading a $1 billion financing round in the car-sharing company. Google was an early investor in Uber, but now a self-driving vehicle company that it created is suing Uber for alleged theft of trade secrets.
The deals come as Waymo accuses Uber of using autonomous technology that allegedly was stolen by an ex-Google engineer. Uber's valuation tops $68 billion, despite recent setbacks.
Uber has also been embroiled in sexual harassment claims, lawsuits and U.S. Department of Justice investigations over its business practices.
IPhone 8 and iPhone X production issues - AAPL stock dropped by 1.5%
The iPhone 8, released last month, had faced a decrease in sales during the opening week compared to previous iPhone models. Much of this can be attributed to the fact the handset is very similar in appearance to the iPhone 7, which sells for less.
But Maris and other Uber investors are conflicted, saying the company still has the potential to be worth $100 billion or more.
Alphabet, Google's parent company, has forged a close relationship with Lyft.
"We will go public when it's right for us", said Lyft spokeswoman Alexandra LaManna.
Kate Middleton: Beautiful In Blue
The blazer is from fashion label Philosophy Di Lorenzo Serafini. She was in high spirits for the Coach Core graduation ceremony.