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 intended to buy Wiz, a company specializing in cybersecurity, for $23 billion. However, the deal would have fallen through. In an article, the BBC mentions an internal memo from the CEO of Wiz, Assaf Rappaport, who allegedly explained to employees that if the offer is tempting, the company prefers to wait until its revenues exceed a billion dollars per year, to make a IPO.

The same week, Google announced a large investment, of $5 billion, in Waymo, the autonomous car specialist. As a reminder, Waymo was a Google project, but ended up becoming a full subsidiary of Alphabet, Google's parent company. Moreover, to date, Alphabet is no longer the only investor in Waymo, since this subsidiary has raised funds from other entities.
In any case, the fact that Google announced new investments in Waymo signal the success of this company, which is now one of the world leaders in autonomous driving.

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

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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 a new investment of 5 billion dollars in Waymo, its subsidiary specializing in autonomous cars
• Waymo is one 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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