So alphabet self driving car waymo are planning to raise outside capital for the first time. The company is said to currently be worth nearly $15 billion. The company which is also celebrating its 10th annivasery is reported to be raising it first ever capital, the move is said to be encouraged by chief financial officer Ruth Porat, would help limit costs and would allow Alphabet the opportunity to display Waymo’s valuation for the first time in several years. Alphabet, however, does not want to relinquish too much equity in the business, formerly known as “Project Chauffeur,” per The Information’s reporting.
Remember the company was said to be valued at $4.5 billilon years ago, but it was proposed that by the way the company was growing it would not be too long they hit or even surpassing $173 billion😐. Let me put that in perspective for you, if waymo eventually exceeds $100 billilon it gonna be worth more than uber and even tesla and that gonna be a huge blow to them(uber and tesla).
According to techcrunch, Google currently touting an $817 billion market cap, can afford to support Waymo. This, however, is not the search engine’s first time seeking third-party investors for its very own moonshot bets rather than continuing to deploy solely its own capital to the businesses. Both Verily, a Google-owned life sciences research and engineering organization, and Makani, a wind energy business also spun out of Google X, have sold equity to Silver Lake and Shell, respectively.
Waymo got it huge break in 2016 which was also when it became an independent standalone business under the leadership of John Krafcik as CEOand Dmitri Dolgov as CTO. The company made some buzz last year with the release of it Waymo One. The company has been on the right track lately, making some insane porfits, estimates even show the company could be bagging $114 billion in revenue in 2030.