Waymo's valuation soars to $126 billion as it accelerates its robotaxi expansion plans, with co-CEOs Tekedra Mawakana and Dmitri Dolgov citing fresh funding as a key driver of the move. The company has secured $16 billion in new investment, nearly tripling its last valuation of $45 billion.
The latest round was led by top investors including Dragoneer Investment Group, DST Global, Sequoia Capital, and Andreessen Horowitz. Alphabet, Waymo's majority backer, remains committed to the ride-hailing giant. With this influx of capital, Waymo aims to further accelerate its robotaxi expansion plans.
Currently, Waymo operates over 400,000 weekly rides across six US cities: Austin, Phoenix, Atlanta, Los Angeles, San Francisco, and Miami. Its fleet is expected to surge to between 700,000 and 3 million vehicles by the end of the decade, according to an estimate from Boston Consulting Group.
Waymo's robotaxi service is currently available in electric Jaguar I-Pace SUVs, but it plans to integrate its technology into vehicles from Chinese EV brand Zeekr, Hyundai, and Toyota. Last year, Waymo vehicles completed 15 million rides, bringing the total since inception to over 20 million.
The company has also been testing highway drives through employee trials across US cities in an effort to expand beyond surface streets and unlock new ride opportunities, such as airport trips. However, Waymo's record on safety is not without incident β the company has been involved in two fatal crashes and is under investigation by both the National Highway Traffic Safety Administration and the National Transportation Safety Board.
Despite this, co-CEOs Mawakana and Dolgov are confident that their technology is leading the way in autonomous mobility. They stated that "the age of autonomous mobility at scale has arrived" and that Waymo is poised to take advantage of it. With its significant valuation now surpassed by $126 billion, Waymo remains a front-runner in the autonomous ride-hailing market, competing with giants like Tesla and Amazon's Zoox.
The latest round was led by top investors including Dragoneer Investment Group, DST Global, Sequoia Capital, and Andreessen Horowitz. Alphabet, Waymo's majority backer, remains committed to the ride-hailing giant. With this influx of capital, Waymo aims to further accelerate its robotaxi expansion plans.
Currently, Waymo operates over 400,000 weekly rides across six US cities: Austin, Phoenix, Atlanta, Los Angeles, San Francisco, and Miami. Its fleet is expected to surge to between 700,000 and 3 million vehicles by the end of the decade, according to an estimate from Boston Consulting Group.
Waymo's robotaxi service is currently available in electric Jaguar I-Pace SUVs, but it plans to integrate its technology into vehicles from Chinese EV brand Zeekr, Hyundai, and Toyota. Last year, Waymo vehicles completed 15 million rides, bringing the total since inception to over 20 million.
The company has also been testing highway drives through employee trials across US cities in an effort to expand beyond surface streets and unlock new ride opportunities, such as airport trips. However, Waymo's record on safety is not without incident β the company has been involved in two fatal crashes and is under investigation by both the National Highway Traffic Safety Administration and the National Transportation Safety Board.
Despite this, co-CEOs Mawakana and Dolgov are confident that their technology is leading the way in autonomous mobility. They stated that "the age of autonomous mobility at scale has arrived" and that Waymo is poised to take advantage of it. With its significant valuation now surpassed by $126 billion, Waymo remains a front-runner in the autonomous ride-hailing market, competing with giants like Tesla and Amazon's Zoox.