Waymo Valuation dropped 80% From $200 to $30 Billion

Self-driving car company, Waymo, is now valued at $30 billion which is $170 billion less than a $200 billion only 18 months ago.

Waymo raised $2.25 billion but at lower valuation. They have 600 self driving vehicles in Arizona.

Waymo CEO John Krafcik was reconsidering the business, focus on the driver, pivot away from robotaxi and might just sell technology to others.

Waymo CEO John Krafcik has stepped down.

The Waymo Driver has driven autonomously tens of millions of miles on public roads across 25 U.S. cities, and more than 20 billion miles in simulation; safely gets anyone in Phoenix with the Waymo One app to their destinations across thousands of miles each week; and is unlocking convenience and scale for our local delivery and freight partners through Waymo Via. We launched Waymo as an independent Alphabet subsidiary, partnered with an amazing group of OEM, supplier, and service companies, and raised our first external investment round of $3.25 billion. As co-CEOs, Tekedra and Dmitri will continue to drive Waymo’s technical and business leadership in the rapidly advancing autonomous industry.

Waymo might work with Renault-Nissan to launch robotaxi services in France and Japan.

Softbank-GM backed Cruise is worth $18 billion.

Google has cut back on funding non-search and non-online advertising businesses.

The pure self-driving car companies are getting new valuations.

SOURCES- Robb Report, Financial Times
Written By Brian Wang, Nextbigfuture.com