Deals
Alphabet’s Waymo Raises $2.5 Billion After Key Departures
- Andreessen Horowitz, Canada Pension Plan among the investors
- Self-driving car unit has lost six executives in short order
Photographer: Caitlin O'Hara/Bloomberg
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Waymo, Alphabet Inc.’s self-driving car unit, said it raised $2.5 billion in a recent funding round to help advance its technology and replace a management team rocked by departures.
Earlier this spring, Waymo had been talking to outside investors about raising as much as $4 billion, Bloomberg has reported. The Google sibling has lost six key executives in rapid succession since February, including the chief executive officer, chief financial officer and several lieutenants, raising questions about its strategy and competitive strength.