SoftBank banking on GM cruise

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.

https://www.freep.com/story/money/cars/general-motors/2018/05/31/general-motors-cruise-softbank-vision-fund/658425002/

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

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