Alphabet reportedly investing in electric scooter startup Lime

DUNCAN RILEY | July 1, 2018

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Electric scooter startup LimeBike Inc. will count both Alphabet Inc. and the former Google Ventures unit GV among its investors upon closing its latest round, according to a report published over the weekend. The Financial Times, quoting people knowledgeable about the deal, said Alphabet’s direct investment will be “injecting a similar amount to that put in by GV,” which was previously reported to be leading the $300 million round June 5. The deal is said to value Lime at $1.1 billion. Alphabet has invested directly into startups before, but rare given that GV has been Alphabet’s primary investment vehicle, along with another fund, Capital G, for investments in late-stage companies. The FT reported that “the two-pronged investment highlights the growing complexity in the way Alphabet is putting some of its excess cash to work in search of future growth.” For Alphabet, investing directly into the rapidly growing on-demand electric scooter through Lime does sit well next to its transport investments such as Waymo LLC ,which is moving in the commercial ride-hailing via its self-driving cars. Alphabet also owns indirect stakes in Lyft Inc. and Uber Technologies Inc. through Capital G and GV, respectively.

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