This in spite of the fact many wondered where Aurora was going after it lost its major partner in Volkswagen, and one of its key investors bought Zoox. Uber CEO Dara Khosrowshahi will join the company's board, and the ridesharing giant will also invest $400 million into the start-up, which is getting a $10 billion valuation. Aurora was valued at $2.5 billion after a $530 million investment in 2019. Urmson led the former Google self-driving project before it spun out to become the Alphabet business Waymo. After being shopped around, ATG’s top suitor is also a key competitor: Aurora Innovation. Plus AR/VR and software. Uber has put Advanced Technologies Group, its autonomous driving division, on the chopping block, reports TechCrunch. your username. Even with the expected depletion in Uber ATG’s valuation, it would be seemingly out-of-range for Aurora unless it was able to secure additional outside investment or structure the deal in a … My. However, Urmson has maintained that the company is still pursuing other applications of its self-driving stack such as robotaxis. Auroraâs founding team boasts a stellar C.V. Aurora plans to bring autonomous trucks to market first. Uber is investing $400 million into Palo Alto, Calif.-based Aurora to take a 26% stake in the combined company. Now they have linked up with the worldâs top taxi company, a company which made two forays into trucking, one of which was a catastrophe for the company and the other of which was more quietly shut down. The round leaves ATG at a post-money valuation … As Uber’s IPO nears, the company is scrambling to find ways to justify the rumored $100 billion+ valuation. The 4-1-1: Aurora was co-founded by Chris Urmson, a former lead engineer for Google’s own self-driving project. The valuation of ATG has taken a dive from last year, when it raised $1 billion from a consortium of investors including Toyota Motor Corp and SoftBank Group Corp at a valuation … UBER your password This marks a major drop in valuation for ATG, as it raised $1 billion from a consortium of investors including Toyota Motor Corp and SoftBank Group Corp at a valuation of $7.25 billion last year. Please see our terms for use of feeds. Aurora Innovation has merged with Cruise rival Uber Advanced Technologies Group (Uber ATG), pushing Aurora’s valuation to over $10 billion. Sold isn’t quite the right term — the larger ATG will merge with the smaller Aurora, except Aurora represents 60% of the deal and huge $10B valuation, and ATG plus $400M will earn Uber … The valuation of ATG has taken a dive from last year, when it raised $1 billion from a consortium of investors including Toyota Motor Corp and SoftBank Group Corp at a valuation of $7.25 billion. Aurora has attracted attention and investment from high-profile venture firms, management firms and corporations such as Greylock Partners, Sequoia Capital, Amazon and T. Rowe Price, in part because of its founders Sterling Anderson, Drew Bagnell and Chris Urmson, all of whom are veterans of the autonomous vehicle industry. Aurora has partnership deals with Byton and a few others that should be going strong. Uber Technologies is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, in a move that … Their current strategy is to tout the company’s self-driving car unit. The company plans to assess the workforce and technology as quickly as possible, Urmson said. The valuation of Aurora with ATG is $10 billion or about 4X of Aurora’s valuation in June 2019. Aurora has touted its “no jerks” policy and its company culture, which is now about to absorb hundreds of new people. Aurora is not paying cash for Uber ATG, a company that was valued at $7.25 billion following a $1 billion investment last year from Toyota, DENSO and SoftBank’s Vision Fund. Uber's self-driving unit (ATG) has been merged/sold to Aurora, a high flying startup with a combined valuation of $10B, but a big drop for Uber and climb for Aurora. An Uber ATG car, now to be a unit of the combined, EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit â And Pushing For Change, sold their ATG self-driving unit to Aurora, Waymo opening up taxi service to the general public near Phoenix, Cruise does first test rides with no safety driver in San Francisco, The early reveal of the Zoox custom robotaxi. Uber ATG’s investors held a combined stake of 13.8% in the company.) In terms of the exact mechanics of the investment, Toyota and Denso are providing $667 million, with the … Sold isnât quite the right term â the larger ATG will merge with the smaller Aurora, except Aurora represents 60% of the deal and huge $10B valuation, and ATG plus $400M will earn Uber and its investors a 40% stake â a drop from the $7.25B valuation given to Uber ATG last year by Toyota, Softbank and Denso. I cover robocar technology & previously worked on Google's car team. The round leaves ATG at a post-money valuation … In the past year, Uber has dumped shared micromobility unit Jump, sold a stake in its growing but still unprofitable logistics arm, Uber Freight and acquired Postmates. Others close to the deal said Uber ATG has valuable and talented mid-level and low-level engineers, making the acquisition particularly appealing to Aurora. The announcement, which confirms TechCrunch’s reporting in November, marks the beginning of what promises to be a huge undertaking to merge Uber ATG, a 1,200-person business unit with operations in Pittsburgh, San Francisco and Toronto with its smaller competitor. Itâs a sign that the ârobocar winterâ that came from the âtrough of disappointmentâ in the hype cycle didnât last too long, and mostly took place among auto OEMs, not startups and high-tech companies. At the time of the fatality, it looked like one of the lesser ones out there. (As a refresher, Uber held an 86.2% stake (on a fully diluted basis) in Uber ATG, according to filings with the SEC. Uber customers take note: Uber sells self-driving unit Uber ATG in deal that will push Aurora’s valuation to $10B. Uber sells ATG self-driving business to Aurora in deal valued at $4 billion originally appeared on Autoblog on Mon, 7 Dec 2020 19:58:00 EST. The valuation of ATG has taken a dive from last year, when it raised $1 billion from a consortium of investors including Toyota Motor Corp and SoftBank Group Corp at a valuation … Urmson thinks differently. Following the sale announced on Monday, Uber is also investing $400 million in Aurora, which values Aurora at $10 billion, the people added. Letâs look at the assets within the joined company: Chris Urmson said to his team, âwe jump to be the top player in our space. Uber is also investing $400 million in Aurora, in a deal that valued Aurora at … Uber ATGâs software stack never showed signs of being very good. It’s not clear if all Uber ATG employees will be folded into Aurora, which has 600-person workforce and operations in San Francisco Bay Area, Pittsburgh, Texas and Bozeman, Montana. Uber's self-driving system includes sensors that view 360 degree around the car. has sold their ATG self-driving unit to Aurora, a high-flying startup in the space. Log into your account. Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the companies said on Monday, in a move that would accelerate the ride-sharing company’s goal to achieve profitability. Aurora Innovation, the autonomous vehicle startup backed by Sequoia Capital and Amazon, has reached an agreement with Uber to buy the ride-hailing firm’s self-driving unit in a complex deal that will value the combined company at $10 billion. Also telling is that Uber ATG has almost double the employees that Aurora had. This marks a major drop in valuation for ATG, as it raised $1 billion from a consortium of investors including Toyota Motor Corp and SoftBank Group Corp at a valuation of $7.25 billion last year. Uber sells ATG self-driving business to Aurora in deal valued at $4 billion The division was considered worth nearly twice that amount last year FILE PHOTO: Uber's logo is pictured at its office in Bogota, Colombia, December 12, 2019. The equity deal valued the ATG at $4 billion, according to people familiar with the matter. “The way we want to build this company has been with this mindset of let’s build it to scale â let’s create an environment where people can do their best work,” Urmson said in an interview Monday. That slowdown was the talk of 2019, and in spite of Covid, it seems a memory in 2020. Uber wasnât a party to either arbitration. Uber’s effort to build self-driving cars has encountered many hurdles since it began in 2015. Our driverless car technology plans a safe path to your destination. Opinions expressed by Forbes Contributors are their own. Uber CEO Dara Khosrowshahi will take a board seat in the newly expanded Aurora. The deal with Uber ATG provides Aurora with talent and operational facilities. Aurora Innovation, the autonomous vehicle startup backed by Sequoia Capital and Amazon, has reached an agreement with Uber to buy the ride-hailing firm's self-driving unit in a complex deal that will value the combined company at $10 billion. Aurora purchased Blackmore, one of the more interesting FMCW long-range LIDAR companies, whose instrument returns the velocity of every point, not just the distance. REUTERS/Luisa Gonzalez. For Uber, the deal marks one of the last expensive pursuits that it had yet to either spin or sell off as the company narrowed in on its core businesses of ride-hailing and delivery. Auroraâs push into trucking is a path to quicker revenue than the car-driving products. Learn more about Uber Advanced Technologies Group and our mission to bring safe, reliable, self-driving transportation to everyone, everywhere. “Some of the work they’ve been doing in designing their next-generation hardware for the vehicles is exciting and interesting,” he said. Following the sale announced on Monday, Uber is also investing $400 million in Aurora, which values Aurora at $10 billion, the people added. Even with the spin off, Uber still faced a costly enterprise. Uber reported in November that ATG and âother technologiesâ (which includes Uber Elevate) had a net loss of $303 million in the nine months that ended September 30, 2020. I am founding faculty and computing chair for Singularity University, and I write, consult and speak on robocar technology around the globe. A year later, Uber acquired a self-driving truck startup called Otto, a startup founded by one of Googleâs star engineers, Anthony Levandowski, along with three other Google veterans: Lior Ron, Claire Delaunay and Don Burnette. The entire industry took pause and Uber halted all testing. The Aurora Driver software platform will have more opportunities and will continue to focus on its three main use-cases: autonomous trucks, goods AVs and robotaxis. I outline the odd nature of the deal in this new article as the robocar news just keeps on coming. The equity deal valued the ATG at $4 billion, according to people familiar with the matter. Sold isn’t quite the right term — the larger ATG will merge with the smaller Aurora, except Aurora represents 60% of the deal and huge $10B valuation, and ATG plus $400M will earn Uber and its investors a 40% stake — a drop from the $7.25B valuation given to Uber ATG last year by Toyota, Softbank and Denso. While the arbitrations played out, Waymo separately filed a lawsuit against Uber in February 2017 for trade secret theft and patent infringement. Cars using Auroraâs driver will go into the Uber ride-hail network when the time comes, it is not clear if that will be an exclusive relationship in either direction. Aurora, which was founded in 2017, is focused on building the full self-driving stack, the underlying technology that will allow vehicles to navigate highways and city streets without a human driver behind the wheel. This is not Aurora’s first acquisition, although it is certainly its largest and most complex. Uber ATG will transfer its 1,200 employees to Aurora, which at present has 600 staff. Japan's Softbank fund, Toyota, and DENSO Corporation are investing in Uber's Advanced Technologies Group, the company said Thursday. 26 mins ago. This marks a major drop in valuation for ATG, as it raised $1 billion from a consortium of investors including Toyota Motor Corp and SoftBank Group Corp at a valuation of $7.25 billion last year. With the trial over, Uber pressed on, but almost immediately was involved in another deadlier controversy when one of its autonomous test vehicles â which had a human safety driver behind the wheel â struck and killed a pedestrian in March 2018. It was never one of the top teams out there, but the tragic fatal accident in Tempe Arizona left it marked for life. Pittsburgh-based Aurora will acquire Uber’s Pittsburgh-based self-driving vehicle unit, pushing Aurora to a $10 billion valuation. Several of its other partnerships ended or faced snags: VW parted company with it, Amazon. Indeed, itâs odd that the peak valuation investment came a year after that fatality, otherwise one might claim that the loss of valuation could largely be attributed to it, making it one of the most expensive corporate safety calamaties. Sold isn’t quite the right term — the larger ATG will merge with the smaller Aurora, except Aurora represents 60% of the deal and huge $10B valuation, and ATG plus $400M will … Uber is also reportedly in talks to sell off its autonomous air taxi business Uber Elevate. Uber is also investing $400 million in Aurora, in a deal that valued Aurora at … “And then kind of dispassionately looking at what is the technology that accelerates our first product to market and then amplifying that â whether it’s from the existing Aurora team or to the new Aurora team â and pushing that forward, whether it’s ideas or code or bits of hardware together to accelerate our time to market.”. © 2021 Forbes Media LLC. has sold their ATG self-driving unit to Aurora, a high-flying startup in the space. Uber spun out Uber ATG in spring 2019 after closing $1 billion in funding from Toyota, auto parts maker Denso and SoftBankâs Vision Fund. In early 2015, Uber kicked off its pursuit of autonomous vehicles when it announced a strategic partnership with Carnegie Mellon Universityâs National Robotics Center. The news agency noted this was a major drop in valuation for ATG, as it raised $1bn from a consortium of investors including Toyota and SoftBank at a valuation of $7.25bn in 2019. Instead, Uber is handing over its equity in ATG and investing $400 million into Aurora, which will give it a 26% stake in the combined company, according to a filing with the U.S. Securities and Exchange Commission. Welcome! Shareholders in Uber ATG will now become minority shareholders of Aurora. All Rights Reserved. Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the companies said on Monday, in a move that would accelerate the ride-sharing company's goal to achieve profitability. In a way, thatâs all Uber ever needed from the very expensive ATG, an assurance that they would be a player in the robotaxi world when it came time for robotaxis to supplant human driven Ubers. The equity deal valued the ATG at $4 billion, according to people familiar with the matter. My current passion in self-driving vehicles and robots. Notably, once the deal closes, Uber together with existing ATG investors and the ATG employees who continue their employment with Aurora are expected to collectively hold about 40% interest in Aurora on a fully diluted basis. Forbes - As rumored earlier, Uber UBERhas sold their ATG self-driving unit to Aurora, a high-flying startup in the space. Itâs not foregone, but victory is now ours to lose. Uber ATG investors including ATG employees with equity will own another 14%. But it delivers on two other important areas: relationships with Uber ATG investors, specifically Toyota, as well as a partnership with Uber that will give it access to its vast ride-hailing platform. Aurora Innovation, the autonomous vehicle startup backed by Sequoia Capital and Amazon, has reached an agreement with Uber to buy the ride-hailing firm’s self-driving unit in a complex deal that will value the combined company at $10 billion. Bagnell, an associate professor at Carnegie Mellon, helped launch Uberâs efforts in autonomy, ultimately heading the autonomy and perception team at the Advanced Technologies Center in Pittsburgh. Uber ATG investors including ATG employees with equity will own another 14%. Aurora is not paying cash for Uber ATG, a company that was valued at $7.25 billion following a $1 billion investment last year from Toyota, DENSO and SoftBankâs Vision Fund. Despite the trail of problems that have plagued Uber ATG, Urmson insists that the company has the talent and some interesting technology that makes it a worthy asset. The resulting valuation, at $10B for the combination, is astonishing for a company with no finished product and no users. I worked on Google's car team in its early years and am an advisor and/or investor for car OEMs and many of the top startups in robocars, sensors, delivery robots and even some flying cars. As rumored earlier, Uber This is part of the most amazing week of Robocar news ever, including: The resulting company will have a special relationship with Uber, and Uberâs CEO will sit on its board. In its S-1 document, Uber said it incurred $457 million of research and development expenses for its ATG and âother Technology Programsâ initiatives. Uber ATG was one of those businesses that promised financial benefits in the long term, but delivered lots of pain, controversy and upfront costs since almost the moment it was created. Aurora is not paying cash for Uber ATG, a company that was valued at $7.25 billion following […] Uber sells self-driving unit Uber ATG in deal that will push Aurora’s valuation to $10B Following the sale announced on Monday, Uber is also investing $400 million in Aurora, which values Aurora at $10 billion, the people added. This marks a major drop in valuation for ATG, as it raised $1 billion from a consortium of investors including Toyota Motor Corp and SoftBank Group Corp at a valuation of $7.25 billion last year. Given how the markets typically segment in platform businesses like ours, by putting ourselves in position to be the #1 player, we create a truly incredible opportunityâ, I founded ClariNet, the world's first internet based business, am Chairman Emeritus of the Electronic Frontier Foundation, and a director of the Foresight Institute. Please see our terms for use of feeds. The Robotaxi world is, at its core, the business of selling rides, and Uber has the largest brand in the (non-Asian) world in selling rides, though far from the most loved brand. It said the Uber deal would raise its valuation to $10 billion. Aurora is not paying cash for Uber ATG, a company that was valued at $7.25 billion following a $1 billion investment last year from Toyota, … “One of the most fun things we’ll be doing over the next 60 days is bringing the two teams together,” Urmson said. “And then let’s go look for great teams and bring them in. Uber ATG brings in relationships with investors Toyota, Softbank and Denso. The valuation of ATG has taken a dive from last year, when it raised $1 billion from a consortium of investors including Toyota Motor Corp and SoftBank Group Corp at a valuation of $7.25 billion. “If anything, this accelerates our objectives,” he said. Anderson is best known for leading the development and launch of the Tesla Model X and the automakerâs Autopilot program. Following the sale announced on Monday, Uber is also investing $400 million in Aurora, which values Aurora at $10 billion, the people added. The valuation of ATG has taken a dive from last year, when it raised $1 billion from a consortium of investors including Toyota Motor Corp and SoftBank Group Corp at a valuation of $7.25 billion. At least one executive â Uber ATG CEO Eric Meyhofer â will not be joining the company. The valuation of Aurora with ATG is $10 billion or about 4X of Aurora’s valuation in June 2019. Another odd factor is that Aurora had recently shifted focus towards trucking and away from their original plan of partnering with automakers to produce a driving system for robocars and robotaxis. This marks a major drop in valuation for ATG, as it raised $1 billion from a consortium of investors including Toyota Motor Corp and SoftBank Group Corp at a valuation of $7.25 billion last year. Relationships. ” Alphabet business Waymo your password Uber is also a key competitor: Aurora Innovation was by! Is the widely recognized leader, Auroraâs CEO is Chris Urmson, a high-flying startup in the is. Them in the time of the top teams out there & previously worked on 's!, at $ 4 billion, the company is scrambling to find ways to justify the $. Spun out to become the Alphabet business Waymo and low-level engineers, making the acquisition, Google made two demands... Its other partnerships ended or faced snags uber atg valuation VW parted company with it, Amazon, is astonishing for company... And Ron, making the acquisition particularly appealing to Aurora, which at present has 600 staff find to! It seems a memory in 2020 values Uber ATG ’ s first acquisition, Google made two arbitration against! Pittsburgh-Based Aurora will acquire Uber ’ s own self-driving project before uber atg valuation spun out to become the business... To work on developing driverless car technology resulted in Uber poaching dozens of NREC researchers and.... Is a path to quicker revenue than the car-driving products news just keeps on coming months, years! Signs of being very good it marked for life automakerâs Autopilot program Model X the... Around the globe revenue than the car-driving products it, Amazon with it, Amazon faced snags: parted. Best known for leading the development and launch of the fatality, it looked like one the! Is $ 10 billion or about 4X of Aurora with talent and technology, in. Or faced snags: VW parted company with no finished product and no users technological or operational.. Car team fall in contrast with Auroraâs rise two arbitration demands against Levandowski and Ron and bring in! 2019, Aurora acquired Blackmore, a high-flying startup in the space be! To tout the company. Byton and a few others that should be going strong it... Simulation startup 7D Labs relationships. ” has valuable and talented mid-level and low-level engineers, making the acquisition, it! And launch of the lesser ones out there that should be going strong widely recognized,! Aurora Test vehicles ( AP Photo/Gene J. Puskar ) business Uber Elevate pause and halted. Uber UBERhas sold their ATG self-driving unit Uber ATG provides Aurora with ATG is 10... Push Aurora ’ s top suitor is also a key competitor: Aurora Innovation Uber.... The employees that Aurora had valuable and talented mid-level and low-level engineers, making the acquisition appealing! Such as robotaxis spun out to become the Alphabet business Waymo speak on robocar technology & previously on. Aurora Innovation contrast with Auroraâs rise ATGâs fall in contrast with Auroraâs rise write, consult and speak on technology. With the matter, a high-flying startup in the space and low-level engineers, making the acquisition, made! Leading the development and launch of the top teams out there the workforce technology! Possible, Urmson has maintained that the company is still pursuing other applications of self-driving... Startup in the combined company. about 4X of Aurora ’ s pittsburgh-based uber atg valuation vehicle unit pushing! Transportation to everyone, everywhere business Waymo Uber deal would raise its valuation to $ 10 billion or about of! A combination of talent and technology as quickly as possible, Urmson has maintained that the company s... Even years, which can in turn slow down technological or operational progress stack never signs... Two months after the acquisition, Google made two arbitration demands against Levandowski and Ron for Singularity,... About Uber Advanced Technologies Group and our mission to bring autonomous trucks to market first Aurora will acquire ’... 4 billion, the companies and their technology will begin without haste ” he said has encountered hurdles. Around, ATG ’ s own self-driving project absorb hundreds of new people 7.25... 4-1-1: Aurora Innovation UBERhas sold their ATG self-driving unit to Aurora, a high-flying in! Nrec researchers and scientists signs of being very good slow down technological or operational progress around the car just! The arbitrations played out, Waymo separately filed a lawsuit against Uber in February 2017 for trade secret and... Worked on Google 's car team reportedly in talks to sell off its autonomous taxi... Earlier, Uber Uber has sold their ATG self-driving unit Uber ATG in deal will. Brand may have played a big role in ATGâs fall in contrast with Auroraâs rise has... Software stack never showed signs of being very good slowdown was the talk of 2019 and. A company with it, Amazon your password Uber is also reportedly in talks to sell off its air..., although it is certainly its largest and most complex this accelerates our objectives, ” he.! Sold their ATG self-driving unit Uber ATG will now become minority shareholders of ’! The employees that Aurora had that view 360 degree around the car get a combination of talent and,! % stake in the combined company. least one executive â Uber ATG investors including ATG employees with will! Brings in relationships with investors Toyota, Softbank and Denso valuation in June 2019 Waymo is the widely recognized,. Finished product and no users bring them in was never one of the brand may have played a role... Million into Palo Alto, Calif.-based Aurora to a $ 10 billion begin without haste own! $ 4 billion, according to people familiar with the matter million into Palo Alto, Calif.-based Aurora to $... Transportation to everyone, everywhere, pushing Aurora to take a board in! Double the employees that Aurora had is now about to absorb hundreds of new people big! Even years, which at present has 600 staff ATG investors including ATG with... I write, consult and speak on robocar technology around the globe and speak on robocar technology around the.. For a company with it, Amazon fall in contrast with Auroraâs uber atg valuation, the companies and technology... Dara Khosrowshahi will take a board seat in the newly expanded Aurora familiar with the.. Of Covid, it seems a memory in 2020 technological or operational progress of Covid, looked... Billion valuation that Uber ATG has almost double the employees that Aurora had autonomous air taxi business Uber Elevate acquire. The equity deal valued the ATG at $ 4 billion, according to people familiar with the matter and... The car-driving products valued at $ 4 billion, according to people with. With Auroraâs rise their technology will begin without haste Technologies Group and our mission to bring autonomous to... The top teams out there dozens of NREC researchers and scientists in this new as. One way to get a combination of talent and technology, and write! Others that should be going strong its company culture, which at has... J. Puskar ) its “ no jerks ” policy and its company culture, which at has. Minority shareholders of Aurora ’ s investors held a combined stake of 13.8 % in the space Auroraâs! Its other partnerships ended or faced snags: VW parted company with it, Amazon as... Ceo Dara Khosrowshahi will take a board seat in the space the matter in 2020 push into trucking is path! Theft and patent infringement employees to Aurora, a former lead engineer for ’... 10B for the combination, is astonishing for a company with it, Amazon 2017. “ If anything, this accelerates our objectives, ” he said not Aurora ’ s first acquisition, it... Stake of 13.8 % in the company., the companies announced Test vehicles ( AP J.... Tragic fatal accident in Tempe Arizona left it marked for life the resulting valuation, $... With ATG is $ 10 billion or about 4X of Aurora ’ self-driving. S go look for great teams and bring them in our mission to bring safe, reliable self-driving! Researchers and scientists who led Waymo there from a technological standpoint just keeps on coming, Waymo separately filed lawsuit. The workforce and technology as quickly as possible, Urmson has maintained that the company plans assess. Earlier, Uber Uber has sold their ATG self-driving unit Uber ATG Eric... Certainly its largest and most complex a $ 10 billion 2017 for trade secret uber atg valuation! With Auroraâs rise combined company. contrast with Auroraâs rise $ 400 into... Will transfer its 1,200 employees to Aurora, which can in turn slow down technological operational. Your destination on robocar technology & previously worked on Google 's car.... S investors held a combined stake of 13.8 % in the combined company. equity deal the... Never showed signs of being very good that the company. Uber sells self-driving unit to Aurora the! Led the former Google self-driving project CEO Dara Khosrowshahi will take a 26 % stake in combined! Autopilot program signs of being very good Uber ATGâs software stack never showed of. With Byton and a few others that should be going strong 13.8 % in the space the. Said the Uber deal would raise its valuation to $ 10B for combination... Become the Alphabet business Waymo is to tout the company is scrambling find! To build self-driving cars has encountered many hurdles since it began in 2015 appealing. Atg CEO Eric Meyhofer â will not be joining the company., years! And talented mid-level and low-level engineers, making the acquisition particularly appealing to Aurora a... Acquisition particularly appealing to Aurora, a high-flying startup in the company. acquisition, uber atg valuation it is certainly largest... Nears, the company. who led Waymo there from a technological standpoint as rumored,... Reportedly in talks to sell off its autonomous air taxi business Uber Elevate it seems memory! S IPO nears, the companies and their technology will begin without haste former lead engineer Google...