Josh Edelson / AP

Google has held talks to invest around $1 billion in Lyft, Axios has learned from multiple sources. Bloomberg is reporting the same. It is unclear which group within Google would make the investment — the company has several investment arms and also invests off its balance sheet — but word is that this is being driven by top-level executives like Alphabet CEO Larry Page.

Why it matters: It would be a stunning move, given that Google was an early investor in Lyft rival Uber, even though the two companies have since gotten litigious over allegations of trade secret theft. Or, as one Uber investor explained it to Axios: "That is seriously messed up."

Complication: SoftBank currently is in talks to invest in Uber, but is insisting on a minimum ownership of 17.3% (i.e., some existing shareholders would need to sell). If SoftBank can't reach that threshold, it has threatened to instead invest in Lyft — a move that theoretically could impact the company's negotiations with Google.

Funding history: Lyft has raised over $2 billion in funding to date, from backers like General Motors, Carl Icahn, Andreessen Horowitz, Floodgate, Mayfield, Coatue Management, Founders Fund and Rakuten.

A Lyft spokesperson declined comment. Google has not yet returned requests for comment.

Go deeper

Dion Rabouin, author of Markets
9 mins ago - Economy & Business

Investors have nowhere to hide

Photo: Jeenah Moon/Getty Images

The massive losses in oil prices and U.S. and European equities were not countered by gains in traditional safe-haven assets on Wednesday.

Why it matters: The unusual movement in typical hedging tools like bonds, precious metals and currencies means they are not providing investors an asset that will appreciate in the event of a major equity selloff.

Kendall Baker, author of Sports
13 mins ago - Sports

A look inside sports owners' political donations

Data: ESPN/FiveThirtyEight; Chart: Axios Visuals

Sports team owners in the four largest North American leagues (NFL, NBA, MLB, NHL) have donated over $46 million in federal elections since 2015, according to research conducted by ESPN and FiveThirtyEight.

By the numbers: Over the past three elections, $35.7 million of that money (77.4%) has gone to Republican campaigns and super PACs, compared to $10.4 million (22.6%) to Democrats.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — Fauci says U.S. may not return to normal until 2022
  2. Politics: Space Force's No. 2 general tests positive for coronavirus
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases
  4. Europe faces "stronger and deadlier" wave France imposes lockdown Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed MLB to investigate Dodgers player who joined celebration after positive COVID test.

Get Axios AM in your inbox

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Subscription failed
Thank you for subscribing!