A Look At Waymo’s Mega $2.25 Billion Funding [Forbes]
Magna International, Inc. (MGA)
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Source: Forbes
Since 2009, Alphabet has funded Waymo, which is focused on developing autonomous vehicles. But this week there was a big change in the strategy. Waymo announced a $2.25 billion in outside funding—the first one in its history. The investors included a mix of venture capitalists, private equity firms and strategic operators like Silver Lake Partners, Andreessen Horowitz, Canada Pension Plan Investment Board, Mubadala Investment, Magna International, AutoNation, and of course, Alphabet. Keep in mind that this will likely not be the end of this round. Waymo has indicated that there has been inbound interest from other investors. So what’s the valuation? Well, there was no disclosure on this. But a report from the Financial Times estimates that it is about $30 billion or so. While this is certainly big for a private company, it is actually well below expectations. Less than two years ago, Morgan Stanley pegged the valuation at a hefty $175 billion. However, to put things into perspective,
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- Magna International Inc. (NYSE: MGA) had its price target lowered by analysts at Wells Fargo & Company from $46.00 to $44.00. They now have an "equal weight" rating on the stock.MarketBeat
- Magna International Inc. (NYSE: MGA) was downgraded by analysts at The Goldman Sachs Group, Inc. from a "neutral" rating to a "sell" rating. They now have a $41.00 price target on the stock, down previously from $42.00.MarketBeat
- Fuel Transfer Pumps Strategic Business Report 2024-2030: DC Pumps Segment is Set to Reach US$1.4 Billion by 2030 with a CAGR of a 5.4%, AC Pumps Segment is Set to Grow at 4.9% CAGR [Yahoo! Finance]Yahoo! Finance
MGA
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- 11/1/24 - Miss
MGA
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- 11/5/24 - Form 6-K
- 11/1/24 - Form 6-K
- 11/1/24 - Form 6-K
- MGA's page on the SEC website