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Uber’s Self-Driving Tech Unit Worth $7.3 Billion?
Uber Technologies Inc.’s autonomous-car unit would be valued at $7.3 billion under a proposed new investment deal.
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Uber Technologies Inc.’s autonomous-car unit would be valued at $7.3 billion under a proposed new investment deal.
The funding would involve a combined $1 billion investment into the ride-share service provider’s Advanced Technologies Group by Denso and current Uber shareholders SoftBank Vision Fund and Toyota, sources tell The Wall Street Journal.
The deal could be announced within days, the newspaper says.
The scheme would enable Uber to retain operational control of ATG while offsetting part of unit’s hefty spending development costs. Some Uber shareholders have been pressing the company to shed the group, which has burned through some $1 billion in the past three years.
The deal also would buttress Uber’s planned initial public offering next month. The IPO is widely expected to value Uber at about $100 billion and raise about $10 billion for the company.
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