After Wiz failure, Google goes all out with its Waymo self-driving cars

© Waymo

If you’ve been following tech news recently, you may already know that Google reportedly wanted to buy Wiz, a cybersecurity company, for $23 billion. However, the deal reportedly fell through. In an article, the BBC mentions an internal memo from Wiz CEO Assaf Rappaport, who allegedly explained to employees that while the offer was tempting, the company would wait until its revenues exceeded $1 billion per year before going public.

That same week, Google announced a major investment of $5 billion in Waymo, the self-driving car company. As a reminder, Waymo was a Google project, but ended up becoming a wholly-owned subsidiary of Alphabet, Google’s parent company. In fact, to this day, Alphabet is no longer Waymo’s only investor, as the subsidiary has raised funds from other entities.
In any case, the fact that Google is announcing new investments in Waymo signals the success of this company, which is now one of the world leaders in self-driving cars.

“[…] we have chosen to commit to a new multi-year investment of $5 billion. This new round of funding, consistent with recent annual investment levels, will allow Waymo to continue building the global leader in autonomous driving technologies,” said Ruth Porat, Alphabet’s chief financial officer.

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A service already operational in the United States

While continuing to develop its technology, Waymo already offers a robotaxi service in the United States, in limited areas. And on the occasion of the presentation of Alphabet's financial results, Sundar Pichai, CEO of Alphabet, recalled that to date, Waymo has already made more than 2 million trips and its vehicles have already traveled more than 32 million kilometers on public roads. In addition, Waymo robotaxis now carry out more than 50,000 trips per week, mainly in San Francisco and Phoenix.

Waymo is part of the projects which Alphabet calls “other bets”. These are projects which are generally not directly linked to its main activities, but which could ensure its long-term growth.

• Alphabet Announces New $5 Billion Investment in Waymo, Its Self-Driving Car Subsidiary
• Waymo is part of the group's long-term projects, and is positioned among the leaders in its field
• Waymo Already Offers a Robotaxis Service in the United States

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