Uber self-driving division may receive $1B investment led by SoftBank

17 March, 2019, 01:31 | Author: Regina Silva
  • SoftBank Toyota Said to Be in Talks to Invest $1 Billion in Uber's Self Driving Unit

The former previously invested in Uber and in 2018 made a $2.25 billion investment in General Motors' self-driving vehicle division.

Uber is in talks to sell a stake in its self-driving technologies unit to SoftBank and other investors for as much as $1 billion, as the ride-hailing company prepares to go public, according to four people with knowledge of the matter.

The deal, estimated to be around $1 billion, would value Uber's self-driving unit between $5 billion to $10 billion. Uber would maintain majority control of the self-driving arm and would use the investment to fund its research and development. The investment would reportedly be specifically in Uber's self-driving technology department, and comes as Uber is heading towards an initial public offering of stock.

Uber, a global logistics and transportation company most recently valued at $76 billion in the private market, is seeking a valuation as high as $120 billion, although some analysts have pegged its value closer to $100 billion based on selected financial figures it has disclosed. But he has indicated a desire to continue developing autonomous cars in the hope that Uber will lead the way to a possible future where robots replace human drivers. Furthermore, in 2018, Uber's self-driving vehicle made headlines for hitting and killing a pedestrian in Arizona.

SDLP leader says families conducted themselves with 'astonishing dignity — Bloody Sunday
However, Army barricades blocked marchers. "Thankfully we had the people in this town who were very supportive of the families". What followed was a 12-year-long investigation involving more than 900 witnesses and hundreds of hours of evidence.


European Union extends sanctions on Russian individuals, blacklisting another eight officials
The EU's decision takes the number of people blacklisted by the bloc over the crisis in Ukraine to 170, plus 44 entities. The billionaire was slapped with sanctions in April a year ago , which targeted tycoons with close ties to the Kremlin.


NZ, Bangladesh Test cancelled after mosque attacks
Another man said he saw children being shot. "Just deeply, deeply saddened that this would happen in New Zealand ". White said the events in Christchurch will now be a game-changer for all sports teams visiting the country.


In addition to Uber, SoftBank has poured money into ride-hailing companies such as Ola in India and Grab in Southeast Asia.

After losing about $3.3 billion past year, Uber is hoping to bring a change in the automobile industry by introducing self-driven cars. But considering the massive bet it has on Uber, SoftBank will want to do whatever it can to boost the business. SoftBank has put $2.25 billion in General Motors Co's self-driving unit Cruise, which has additionally gotten assets from Honda Motor.

While both, SoftBank and Uber, refused to make any comment, a spokesman for Toyota said that the company "constantly reviews and considers various options for investment".

Recommended:



Popular

LSU’s loss to Florida helps Vols in Championship Game
A couple of baskets by Nembhard and buckets from four different Gators led to the team being down 35-25 going into halftime. Nembhard led five Gators in double figures scoring with 20, while forward Keyontae Johnson had 16 points and 10 rebounds.

Death toll from New zealand's Christchurch mosque attacks rises to 49
At about the same time, there was a second shooting at Masjid mosque in Linwood, where seven more were killed. After parking, he took two guns and walked a short distance to the mosque where he opened fire.

S&P 500 eases amid US-China trade uncertainty
A person familiar with the matter told Reuters there "were rumblings" about a possible meeting late next month. We have a very good relationship.

Watch live as Irish leader presents President Trump with bowl of shamrock
Mr Trump said he had seen Mr O'Rourke's announcement and said: "I've never seen so much hand movement". The two leaders discussed Brexit as well as a number of Irish-US specific matters.

Gambino crime family boss shot dead
Federal prosecutors had referred to Cali in court filings in recent years as the underboss of the Gambino organization. Frank Cali, 53, was shot multiple times and then run over by a pickup truck, according to the New York Daily News .

Beto O'Rourke enters presidential conversation, but what are his chances?
Many Texas Democrats hoped O'Rourke would sit out the presidential race and run against Sen. Vela said he also donated $2,000 to Julian Castro when the former San Antonio mayor and U.S.

England squad: Dual heritage changing worldwide landscape, says Gareth Southgate
Discussing Ward-Prowse's absence, Southgate added: "We love Prowsey - this recent spell is his best since we capped him". On Rice's inclusion, the England manager said: "His form warrants it".

US To Impose Visa Restrictions On ICC Personnel
John Bolton harshly condemned the ICC in one of his first speeches after becoming Trump's national security advisor in September. He threatened additional steps, including economic sanctions, against the ICC if the court does not change its course.

Huawei clarifies why it used online stock images to promote new smartphone
Huawei's Weibo post didn't have any disclaimer to clarify that the images were taken using DSLRs instead of its upcoming phones. Both the smartwatches will make use of Huawei's in-house Light OS operating system to perform all the tasks.

U.S. plans to begin long-banned missile test this year
In August, the Pentagon intends to test a cruise missile with a range of about 1,000 km, capable of flying at a low altitude.