Waymo Valued Over $45B After Latest Funding Round
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Waymo, Alphabet Inc.’s autonomous driving unit, was valued at more than $45 billion including its latest round of financing, according to people familiar with the matter.
The business said late last week that it had raised $5.6 billion in new capital at an undisclosed value. The financing was led by Alphabet, which also owns Google.
Representatives for Waymo did not immediately respond to a request for comment. The company, which competes with Uber Technologies Inc. in ride-hailing, has been rapidly expanding the number of rides it offers in cities including San Francisco and Phoenix, delivering more than 150,000 paid trips each week.
Waymo is part of Alphabet’s “Other Bets” portfolio of businesses, which includes the life sciences unit Verily. That unit reported $388 million in third-quarter revenue, up from $297 million in the year-ago quarter.
The company, led by co-CEOs Tekedra Mawakana and Dmitri Dolgov, said existing investors who participated in the recent funding include Andreessen Horowitz, Fidelity, Perry Creek, Silver Lake, Tiger Global and T. Rowe Price.
Katie Roof, Ed Ludlow and Gillian Tan contributed to this report.
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