Alphabet’s autonomous driving unit, Waymo, reportedly reached a valuation exceeding $45 billion following its latest financing round, as reported by Bloomberg News, which cited sources familiar with the matter.
The valuation surge follows a $5.6 billion investment round that was led by Alphabet, with backing from prominent investors such as Andreessen Horowitz, Fidelity, Silver Lake, Perry Creek, Tiger Global, and T. Rowe Price.
The fresh capital is expected to fuel the expansion of Waymo One, the company’s self-driving ride-hailing service, which currently operates in major cities like San Francisco, Phoenix, and Los Angeles, as well as Austin and Atlanta through a partnership with Uber.
Waymo reports that its robotaxis now deliver over 100,000 paid trips per week, a reflection of the unit’s accelerating growth. The company has extended its services to new urban areas and has recently introduced curbside pick-up at Phoenix’s Sky Harbor International Airport.
Bloomberg noted that external investments may provide a buffer for Waymo as the industry faces increasing regulatory scrutiny. The autonomous driving space is seeing heightened competition, particularly with Tesla’s foray into robotaxis.
CEO Elon Musk recently unveiled the Cybercab concept at Tesla’s “We, Robot” event, with Tesla’s initial ride-hailing service already operating for employees in the Bay Area, albeit with safety drivers.
Waymo’s expansion efforts and continued investment reflect a strategic move to secure its position in the evolving landscape of autonomous ride-hailing, balancing market demands with potential regulatory challenges ahead.
