Ahead of an initial public offering expected next month, Uber Technologies Inc. secured a $1-billion investment in its self-driving unit from three Japanese companies.
Denso Corp., Toyota Motor Corp. and SoftBank Group Corp.’s Vision Fund bought stakes in the unit, valuing the arm at $7.25 billion, according to a statement. The deal will help Uber, which tallied a $3-billion operating loss last year, to continue funding a very costly endeavor.and is expected to begin a road show to promote the stock before the end of the month. The offering could value Uber at about $100 billion, people familiar with the matter have said.
The deal is expected to close in the third quarter, Uber said. Together, Toyota and the auto supplier Denso will invest $667 million, while the SoftBank Vision Fund will chip in $333 million for the self-driving unit., with a 16% holding. Toyota has a smaller stake. SoftBank hasn’t been able to take two board seats at Uber that were granted as part of its investment more than a year ago. Due to an impending U.S.
The new corporate entity will have a board compromised of six Uber-appointed members, one appointed by Toyota and one from SoftBank’s Vision Fund, a person familiar with the matter said. That seat will also require U.S. security approval.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Uber announces $1 billion investment into its self-driving car group, weeks before going publicThe investment from Softbank, Denso and Toyota values the division, known as the Advanced Technologies Group (ATG), at $7.25 billion and creates a newly formed corporate entity with its own board.
Leer más »
Uber lands $1 billion from SoftBank, Toyota for self-driving unitUber's autonomous vehicle unit has raised $1 billion from a consortium of i...
Leer más »
Uber Clinches $1 Billion Investment in Self-Driving-Car UnitUber Technologies Inc. said it struck a deal with investors including SoftBank Group Corp.’s tech fund for a $1 billion investment in its self-driving-car unit as the ride-hailing company prepares for an initial public offering.
Leer más »
Uber wins $1B investment from Toyota, SoftBank fundJapanese car giant Toyota and investment fund SoftBank Vision Fund have unveiled an investment of $1 billion in US ride hailing company to develop self-driving vehicles.
Leer más »
Uber lists competitors such as Alphabet and Amazon and addresses past scandals in its IPO filingUber, in its IPO prospectus, says Amazon, DHL, Didi, GrubHub, Lyft and Tesla are among its major competitors.
Leer más »
Uber Is Huge, Diversified, and Other Things We Learned From Its IPO FilingRide-hailing giant Uber Technologies has filed its IPO registration statement with the Securities and Exchange Commission. It will become the latest in a series of high-valued tech companies to go public, following the IPO by its rival Lyft.
Leer más »
What Uber's IPO Reveals About Uber Freight's Marketplace Opportunity Is Highly MisleadingUber has a very powerful brand name. It undoubtedly contributed to Uber Freight's growth. But if this was a stand-alone prospectus for just Uber Freight, and if the Freight division did not carry the name 'Uber,' who would be foolish enough to invest in them?
Leer más »
Uber has raised $1 billion for its self-driving unit, which is now valued at more than $7 billionJapan's Softbank fund, Toyota, and DENSO Corporation are investing in Uber's Advanced Technologies Group, the company said Thursday.
Leer más »
An IPO frenzy, 'irreconcilable' differences at Barclays, and Apple's $300 billion opportunityHello! It was a big week for the IPO market. For one, Uber filed for its long-awaited IPO.
Leer más »
Alphabet Is Uber IPO’s Surprise Winner With Potential $5 Billion StakeAs one of Uber’s top shareholders, Alphabet’s stake could be worth $5 billion if Uber hits its expected IPO valuation of $100 billion.
Leer más »
Alphabet Is Uber IPO’s Surprise Winner With Potential $5 Billion StakeAs one of Uber’s top shareholders, Google-parent company Alphabet’s stake could be worth $5 billion if Uber hits its expected IPO valuation of $100 billion by jillianiles
Leer más »