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Alphabet leads $1B investment in Lyft

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Alphabet Inc.’s investment fund CapitalG led a $1 billion investment round funding ride-hailing service Lyft.

The new round of funding brings the San Francisco-based company’s valuation up to $11 billion, below competitor Uber’s $68 billion value.

CapitalG Partner David Lawee will join Lyft’s board with the investment.

Read more from the San Francisco Business Times.

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