SoftBank and Toyota can invest $1 bn in Uber`s autopilot department
SoftBank and other investors are negotiating with Uber about investing $1 billion in an unmanned unit of the company, sources from The Wall Street Journal and The New York Times information. Reuters also named Toyota among potential investors.
According to WSJ sources, negotiations can still be terminated, but if the deal goes through, it will be announced in April 2019. In 2017, Uber spent on the development of remotely piloted cars about $750 million before cutting expenses in 2018, the newspaper writes.
The conditions of the deal involve the purchase of Uber shares, specifically issued for an unmanned unit. The company will retain control over it and use the money to finance its development, according to NYT.
Investments will help Uber attract potential investors before an IPO, during which a startup can be valued at up to $ 120 billion.
Uber and SoftBank declined to comment. A Toyota spokesman told Reuters that the company is regularly exploring various investment options, but now they still have nothing to announce.
It should be reminded that Softbank closed the deal with Uber and became the company's largest shareholder in January 2018. In May, the Japanese company invested $ 2.25 billion in autopilot technology called Cruise.
Taxi services Uber and Lyft simultaneously applied for an IPO in December 2018. According to WSJ, Uber may already hold a placement of shares in the first quarter of 2019, Lyft plans an IPO for March or April.
On March 12, 2019, The Information said that Alphabet, which also owns Google, is seeking outside investors for the Waymo unmanned machine development department.
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The information above cannot be considered as an investment advice and past results do not indicate future performance.
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According to WSJ sources, negotiations can still be terminated, but if the deal goes through, it will be announced in April 2019. In 2017, Uber spent on the development of remotely piloted cars about $750 million before cutting expenses in 2018, the newspaper writes.
The conditions of the deal involve the purchase of Uber shares, specifically issued for an unmanned unit. The company will retain control over it and use the money to finance its development, according to NYT.
Investments will help Uber attract potential investors before an IPO, during which a startup can be valued at up to $ 120 billion.
Uber and SoftBank declined to comment. A Toyota spokesman told Reuters that the company is regularly exploring various investment options, but now they still have nothing to announce.
It should be reminded that Softbank closed the deal with Uber and became the company's largest shareholder in January 2018. In May, the Japanese company invested $ 2.25 billion in autopilot technology called Cruise.
Taxi services Uber and Lyft simultaneously applied for an IPO in December 2018. According to WSJ, Uber may already hold a placement of shares in the first quarter of 2019, Lyft plans an IPO for March or April.
On March 12, 2019, The Information said that Alphabet, which also owns Google, is seeking outside investors for the Waymo unmanned machine development department.
You can find more information about the stock market on GMOTrading platform.
The information above cannot be considered as an investment advice and past results do not indicate future performance.
**Investors should have experience and understand the risks of losing all the initial investment.
80% of retail investor accounts lose money when trading CFDs with GMOTrading.
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