SoftBank banking on GM cruise

Twitch 3YmbE8qZ5P
May 31, 2018 16 Comments

Uber partnered with Waymo.
Uber's one of the largest investor is banking on GM Cruise.
GM have 10% stake in Lyft (Uber's competitor)

haha top investing firm and companies showing how they diversify.


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TOP 16 Comments
  • Uber / Eng ulhfrhe
    What’s this about?

    “There is more exclusivity between GM and SoftBank. We have agreed to a 7-year term before each of us can seek capital outside of this partnership which is a “good runway” to get that technology growth going, he said.”

    $2.35 billion isn’t enough for 7 years with all the scaling to be done in that time. This means that SB will have them over a barrel if they need more money within 7 years. Also, how is this a two way exclusivity? Clearly SB has more Vision Fund money to invest and transportation is a pillar in their investment thesis.
    May 31, 2018 9
    • Cruise Automation / Eng ✉️
      Also, where did you read this, ulhfrhe? I can't find it
      May 31, 2018
    • Uber / Eng ulhfrhe
      End of the article. Last paragraph before the byline.
      May 31, 2018
    • Cruise Automation / Eng ✉️
      It doesn't talk at all about being able to seek capital:
      "There is exclusivity between GM and SoftBank. The two have agreed to a 7-year term before either can change their arrangement. Both companies said that time frame will provide enough time to significantly grow technology"

      Changing is different from "cannot seek"
      May 31, 2018
    • Uber / Eng bkkhfdh
      What’s the arrangement they made? This looks like a vanilla funding round.
      May 31, 2018
    • Cruise Automation / Eng ✉️
      Not vanilla, because we were already acquired by GM back in 2016. Now we're 20% unacquired now....?
      Jun 1, 2018
  • Cruise Automation Pagespop
    Nov 11, 2018 0
  • Google King Kai
    Masa is a monster. Reading his bio now
    May 31, 2018 0
  • Eden AKxR22
    I don't understand why would GM give away 20% stake of the company
    Jun 2, 2018 2
    • Cruise Automation 2021294121
      Their stock price surged 11% on the announcement. Cruise does better, GM does better. They can do better if they're faster with the influx of cash.
      Jun 3, 2018
    • Cruise Automation lamamar
      Also, GM is a carmaker operating on paper-thin profit margins. Having a 1000 of twenty-something year olds in SF eating free lunch could get expensive
      Jun 7, 2018
  • Snapchat


    A drop in the bucket in their $96B dollar fund.
    May 31, 2018 0


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