Enlarge / A Lyft-branded car picks up a passenger in San Francisco on June 20, 2015. (credit: Ramin Talaie | Getty Images) In September, we found out that Alphabet was possibly about to invest in the ride-hailing company Lyft. On Wednesday, Recode reported that the speculation was correct, and Google's parent company is leading a $1 billion round of investment that raises Lyft's valuation to $11 billion.