Alphabet Inc, Google’s parent company has reportedly invested in growing electric scooter trend, the tech giant has funded ‘Lime’ the electric scooter service company with $300 million of a funding round that already included Google Ventures.
However, it was not revealed that how much cash Lime would get, but Google Ventures was leading the group reportedly, and Alphabet Inc, puts in a similar amount, it is a considerable amount, told financial times.
Why Alphabet Inc, is heavily involved in this investment is still unknown and all the parties declined to comment when reached. It seems Google is now bidding on the future of transport, the growing trend is alive and has a huge potential in it, and electric scooter service could bring in cheap, convenient, alternative and sustainable transportation option in urban cities of the world. The tech giant is now seemingly moving beyond internet and mobile market.
Alphabet Inc. is already involved in some of the transportation services such as Waymo’s self-driving cars and Sidewalk Lab’s public transit. There are some other investments as well including support for SoinLaunch’s space cargo catapult and Kitty Hawk’s flying cars.
The company is focusing on a broader shift from persona car use, however, the ground vehicles already in the business are not the options for Google. The investment seems viable if Google wants to continue as the ever-growing technology leader. However, Alphabet’s major stake in income still comes from the internet ads.
The changing capacity of the company would definitely provide it with an extra layer of sustainability and in a rapidly changing technology environment. Google wants to reduce the dependency on its internet ads business, stake in Lime is another clear example of it, but risks are always associated because no one can guarantee that electric scooter services will continue to expand. But you can simply anticipate that what the future would be like, what are the constraints, what would be more sustainable etc. in order to make your future plans, that is what going is doing now.
Manager at Research Snipers, RS-NEWS, Digital marketing enthusiast and industry professional in Digital Marketing, Social Media, Business News, and Technology News, with vast experience in the media industry, I have a keen interest in business technology, News breaking.