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Waymo raises $3B for expansion

diplomat33

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Aug 3, 2017
8,228
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Terre Haute, IN USA
"Waymo has closed an extension of the financing round announced on March 2, in which funds and accounts advised by T. Rowe Price Associates, Inc., Perry Creek Capital, Fidelity Management & Research Company, and other external investors participated, bringing the total size of the round to $3 billion.
As we continue to advance the World’s Most Experienced Driver™ — the Waymo Driver — we’ll use this injection of capital to deepen our investment in our people, our technology, and our Waymo One and Waymo Via operations. COVID-19 has underscored how fully self-driving technology can provide safe and hygienic personal mobility and delivery services. We’re grateful these partners share our mission to make it safe and easy for people and things to get where they're going."
Waypoint - The official Waymo blog: T. Rowe Price, Perry Creek Capital, Fidelity, and others join first round of investment in Waymo
 

diplomat33

Well-Known Member
Aug 3, 2017
8,228
9,821
Terre Haute, IN USA
Waymo raised an additional $750, after they lost their $#!t during the first round expecting to have a much better valuation.
The original round got them 2.25 billion, so together now they have $3 billion.


Can you appreciate the difference between "Waymo raises $3B" vs "Waynmo raises additional $750 million" ??

Waymo raises $750M more to advance its autonomous vehicle roadmap - SiliconANGLE

Waymo did raise $3B total. $2.25B initially + extra $750M = $3B total. So they raised a total of $3B when they closed the round.

"Waymo has closed an extension of the financing round announced on March 2, in which funds and accounts advised by T. Rowe Price Associates, Inc., Perry Creek Capital, Fidelity Management & Research Company, and other external investors participated, bringing the total size of the round to $3 billion"
 
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diplomat33

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Aug 3, 2017
8,228
9,821
Terre Haute, IN USA
And here is one person's view on why Waymo is going for outside money instead of letting Google provide the funding.


Ah the good old "Waymo does not have enough data but Tesla does have enough data so Tesla will win" argument.

If it is right then Tesla should surpass Waymo and achieve L5 first, right? Let's see if that happens. So far, it has not happened yet.
 

MP3Mike

Well-Known Member
Feb 1, 2016
16,247
36,682
Oregon
Ah the good old "Waymo does not have enough data but Tesla does have enough data so Tesla will win" argument.

That isn't the take-away I got from the video. The point I thought he was making is that if Alphabet/Google thought Waymo was going to be successful they would use their own money to fund it. But since they aren't sure it is going to succeed they would rather spend other people's money. I can see the logic in that, but maybe Google has some other reason for brining in outside money when they have plenty on hand to fund it themselves.
 
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diplomat33

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Aug 3, 2017
8,228
9,821
Terre Haute, IN USA
That isn't the take-away I got from the video. The point I thought he was making is that if Alphabet/Google thought Waymo was going to be successful they would use their own money to fund it. But since they aren't sure it is going to succeed they would rather spend other people's money. I can see the logic in that, but maybe Google has some other reason for brining in outside money when they have plenty on hand to fund it themselves.

Got it. I was focused on the part of the video where he talks about Waymo versus Tesla's data.

I am not sure we can conclude that Waymo will fail just because Waymo is raising capital from outside sources instead of getting it from Google. It could be as simple as Google thinking "why spend our own money when these big investments are willing to give Waymo money". If other firms are willing to give money to Waymo, Google would be silly to use their own.
 

MP3Mike

Well-Known Member
Feb 1, 2016
16,247
36,682
Oregon
I am not sure we can conclude that Waymo will fail just because Waymo is raising capital from outside sources instead of getting it from Google. It could be as simple as Google thinking "why spend our own money when these big investments are willing to give Waymo money". If other firms are willing to give money to Waymo, Google would be silly to use their own.

But other firms didn't give Waymo money. They invested in Waymo, so they now own a portion of Waymo. So now Google/Waymo has to share any potential profits. (If you had a sure thing, and a hoard of cash, why would you get outside investors and share your sure thing?)
 
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mikes_fsd

Banned
May 23, 2014
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Charlotte, NC
The point I thought he was making is that if Alphabet/Google thought Waymo was going to be successful they would use their own money to fund it. But since they aren't sure it is going to succeed they would rather spend other people's money.
The point was that Google expected the valuation to be MUCH higher ($30B actual vs $170B fiat valuation just a few short months earlier)
One big thing they would get at that valuation is access to debt markets based on valuation.

There are probably other things as well.

Self-Driving Car Startup Waymo Lost $170 Billion in Value in a Year and a Half
 
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diplomat33

Well-Known Member
Aug 3, 2017
8,228
9,821
Terre Haute, IN USA
But other firms didn't give Waymo money. They invested in Waymo, so they now own a portion of Waymo. So now Google/Waymo has to share any potential profits. (If you had a sure thing, and a hoard of cash, why would you get outside investors and share your sure thing?)

I stand corrected. But I would assume that Waymo is still a majority holder.
 

Doggydogworld

Active Member
Mar 4, 2019
1,716
6,280
Texas
That isn't the take-away I got from the video.
LOL. He spends 95% of the video machine-gunning "Tesla has more data, Waymo is doomed", but that's not the take-away you got.
(If you had a sure thing, and a hoard of cash, why would you get outside investors and share your sure thing?)
Because I'm not an idiot. First, there are no sure things. Second, rich Silicon Valley founders often bring outside capital in to:
  • Give strategic partners (e.g. Magna, Autonation) strong incentives to help you succeed
  • Bring more varied experience, connections and viewpoints to your board
  • Starve other startups of funding
  • Set valuation (smart people investing real cash vs. Adam Jonas 170b clown numbers)
It's shortsighted to hoard that last 5-10% of future profits by shutting the rest of the world out.
The point was that Google expected the valuation to be MUCH higher ($30B actual vs $170B fiat valuation just a few short months earlier)
Google never valued Waymo at 170b. Good grief.
 

DanCar

Active Member
Oct 2, 2013
2,023
1,775
SF Bay Area
I've seen first hand the Waymo lies. A company that is successful doesn't need to lie. I've seen mid level managers leave. A company that is going to be widely successful doesn't have mid level managers leave. Waymo tech is impressive, but the implementation isn't. Hopefully they can get over that hump, but I see nothing on the horizon that will get them over their no risk blood policy. The easiest way I see for them to be successful is if they declare failure and sell out. Any venture capitalist with a penchant for risk can make Waymo successful. Waymo by itself has zero chance of being successful in the near team.
 
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