Lyft is said to explore IPO as it raises $1 bn

Alphabet's investment ratchets up the high-stakes battle for supremacy in the ride-hailing industry

In an escalation of its ride-hailing war against Uber, Lyft has begun to explore going public in 2018 and is trying to strengthen its position by raising more capital, including $1 billion in new financing led by an investment arm of Google’s parent company.

Lyft has had talks with investment banks about an initial public offering next year, according to two people briefed on the discussions, who asked to remain anonymous because the conversations are confidential. Lyft has not decided which bank may become its lead underwriter for an IPO, the people said. To bolster itself ahead of any public offering,