Deals
Uber’s Self-Driving Arm Gets $1 Billion Investment Ahead of IPO
- Denso, Toyota and SoftBank value unit at $7.25 billion
- Uber will retain majority control over autonomous-car group
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Uber Technologies Inc. secured a $1 billion investment from three Japanese companies, ahead of an initial public offering expected next month.
Denso Corp., Toyota Motor Corp. and SoftBank Group Corp.’s Vision Fund bought stakes in the self-driving 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.