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Waymo Gets a $5.6 Billion Boost

A new round of funding will help Waymo scale its business.

By Travis Hoium – Oct 26, 2024 at 6:00AM EST

Waymo, the "other bet" started by Alphabet (GOOG 0.79%), has raised another $5.6 billion from investors and this could help the company scale to be a huge ride-sharing platform. In this video, Travis Hoium breaks down why this is such a big deal for the company.

*Stock prices used were end-of-day prices of Oct. 24, 2024. The video was published on Oct. 24, 2024.

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About the Author

Travis Hoium
Travis Hoium is a contributing Motley Fool stock market analyst covering solar energy, technology, and growth stocks. Before The Motley Fool, Travis was a mechanical engineer at 3M and founded a virtual reality company. He holds a bachelor’s degree in mechanical engineering and a master’s degree in business administration from the University of Minnesota.
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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Travis Hoium has positions in Alphabet, General Motors, and Mobileye Global. The Motley Fool has positions in and recommends Alphabet, Tesla, and Uber Technologies. The Motley Fool recommends General Motors and Mobileye Global and recommends the following options: long January 2025 $25 calls on General Motors. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.

Stocks Mentioned

Alphabet Stock Quote
Alphabet
NASDAQ: GOOG
$304.63
(-0.55%)-$1.67
Alphabet Stock Quote
Alphabet
NASDAQ: GOOGL
$305.38
(-0.75%)-$2.31
General Motors Stock Quote
General Motors
NYSE: GM
$73.37
(-0.22%)-$0.16
Tesla Stock Quote
Tesla
NASDAQ: TSLA
$381.62
(-2.84%)-$11.16
Uber Technologies Stock Quote
Uber Technologies
NYSE: UBER
$75.45
(-1.58%)-$1.21
Mobileye Global Stock Quote
Mobileye Global
NASDAQ: MBLY
$7.77
(+1.90%)+$0.15

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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