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Uber's Self-Driving Arm Has Received a $1 Billion Investment Ahead of Its IPO

6 monthes ago   |   By Time

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.
Uber publicly filed a prospectus to go public last week and is expected to begin a road show to promote the stock before the end of the month. The offering...
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Uber announces $1 billion investment into its self-driving car group, weeks before going public

6 monthes ago   |   By CNBC

The investment from Softbank, Denso and Toyota values the division, known as the Advanced Technologies Group , at $7.25 billion and creates a newly formed corporate entity with its own board.
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