Photo: A Waymo minivan arrives to pick up passengers for an autonomous vehicle ride, Wednesday, April 7, 2021, in Mesa, Ariz. Photo: AP
Alphabetâs self-driving car subsidiary Waymo on Wednesday said it raised $2.5 billion from investors, with an asterisk: Alphabet was the lead investor in the round, according to a person familiar with the deal.Â
In Silicon Valley, the lead designation usually belongs to the party that contributed half of the total amount in the round. So either Alphabet CFO Ruth Porat wanted to make sure the new investment didnât reduce her companyâs roughly 90% stake in Waymo by much, or none of the other investorsâincluding the only new investor in the round, Tiger Global, a name that should surprise no oneâwould pony up that kind of cash. That makes todayâs Waymo funding round different from last yearâs $3 billion round, which was led by private equity firm Silver Lake. Alphabetâs contribution was significantl
Your 90-second guide to the day in tech
startupdaily.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from startupdaily.net Daily Mail and Mail on Sunday newspapers.
How Ponzi Schemes Work
howstuffworks.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from howstuffworks.com Daily Mail and Mail on Sunday newspapers.
Yves here. Hubert Horan continues his chronicle of the deterioration of Uber’s finances. And you can only blame so much on the pandemic.
By Hubert Horan, who has 40 years of experience in the management and regulation of transportation companies (primarily airlines). Horan has no financial links with any urban car service industry competitors, investors or regulators, or any firms that work on behalf of industry participants
Last Thursday, Uber announced a full year 2020 GAAP loss of $6.8 billion with a GAAP net margin of (-60%). As discussed in the context of the mid-year results presented in Part 23, [1] Covid-19 significantly reduced Uber revenues, just as the pandemic has devasted dozens of other urban services and transport businesses.