Uber Technologies Inc. is nearing a deal with a group including SoftBank Group Corp. that would invest in its self-driving car unit at a valuation of $7.25 billion, according to people familiar with the matter, as the ride-sharing firm readies its initial public offering
Uber is nearing a deal with a group, including SoftBank, to invest in its self-driving car unit to be valued at $7.25 billion, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
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SoftBank closed its $8 billion investment in Uber in January 2018, which gave it a 16 percent stake in the ride-hailing company and made it the largest shareholder.
Cruise has a value of more than $14 billion despite no significant revenue and a product not ready for commercial launch.
Toyota and Denso declined to comment, while Uber and SoftBank did not respond to Reuters’ requests for comment.