Uber plans to kick off IPO in April

GettyUber CEO Dara Khosrowshahi

Under the terms of the proposed deal, investors would purchase from a pool of Uber stock specifically earmarked for the self-driving technologies unit.

Investors including Japanese technology giant Softbank are closing in on a deal to invest up to $1bn (£750m) in Uber's self-driving auto business. Apart from SoftBank, the investor consortium includes an automaker, they added.

That would give the unit a value of $5 billion to $10 billion, according to two people who told Reuters. Uber would maintain majority control of the self-driving arm and would use the investment to fund its research and development.

Uber, a global logistics and transportation company most recently valued at $76 billion in the private market, is seeking a valuation as high as $120 billion, although some analysts have pegged its value closer to $100 billion based on selected financial figures it has disclosed.

The most tragic event happened a year ago, when an Uber self-driving vehicle struck and killed a pedestrian in Arizona. But he has indicated a desire to continue developing autonomous cars in the hope that Uber will lead the way to a possible future where robots replace human drivers.

Mafia boss 'Franky Boy' killed in drive-by shooting
Following Castellano's murder, Gotti headed the Gambino family until his incarceration for conspiracy and murder in 1992. Det Shea said Cali emerged from his home around 9:15pm after the suspect backed his pickup truck into his Cadillac SUV.

SoftBank is already a major investor in Uber after it acquired about 17.5 percent of the ride-hailing firm's stock previous year at a significant discount. This week, TechCrunch reported that at one point Uber was spending $20 million per month on its self-driving division, with the ambitious goal of having 75,000 autonomous vehicles on the road by this year.

The news also comes at the heels of SoftBank's aggressive strategy of heavily investing in AV programs across the industry.

Finance and technology enthusiasts will finally get to witness one of Silicon Valley's most highly anticipated initial public offerings as early as next month when ride-hailing platform Uber finally goes public.

"Toyota constantly reviews and considers various options for investment, but we do not have anything to announce about a further investment in Uber at this time", a Toyota spokeswoman said on Wednesday.

Related News:



Most liked

Solskjaer insists Manchester United 'played well' in Arsenal defeat
Any move for Bale or another high-profile wide player would surely mark the end of Alexis Sanchez's forgettable spell with United .

Louisan learns his uncle was wounded in New Zealand mosque attacks
He sustained a head injury, which was not believed to be serious, and was kept in hospital for treatment, the police added. Following the attack, New Zealand's national security level was changed from "low" to "high".

Borough MP resigns junior shadow minister role over Brexit second referendum vote
Local activists had wanted to deselect him as their candidate in the next general election because of his stance on Brexit . Mr Farage said: "If politicians think they can walk all over us, then we're going to march back and tell them they can't".

Former Eagles WR Golden Tate stays in the NFC East
But instead of wearing the Philadelphia Eagles' midnight green, he'll be wearing the blue of the New York Giants. When the regular season begins, Tate will be 31, seven years younger than his new team's starting quarterback.

Brexit: MPs to vote on 29 March no-deal exit from EU
Theresa May has resisted calls to sack rebel Cabinet ministers after the no-deal Brexit vote left her authority in shreds. She said: "I'm grateful... for the spirit in which they have sought to broker compromise in this House".

Apple strikes back at Spotify
The company also points out that Spotify's Watch app is now the number one app in the Watch Music category. Today the company has shot back, basically saying that Spotify just lives to make money off others work.

US looks to test ground-launched cruise missile in August
In August, the Pentagon intends to test a cruise missile with a range of about 1,000 km, capable of flying at a low altitude. But he thought it was more likely that the Trump administration was simply planning for the treaty's demise.

Last remaining US diplomats leave Venezuela
Morales, who is on a visit to Greece, said meddling in the domestic affairs of another country never bodes well. Despite this, he said the US will continue to stand with self-proclaimed interim President Juan Guaido .

Arsenal to face Napoli in Europa League last eight
Arsenal boss Unai Emery is chasing a fourth Europa League title as manager after three successive wins at Sevilla . He has won 41 of his 71 matches in the competition, losing only 11; a close to 60% win percentage.

Lawyers: Decision not to free Viet accused is discrimination
Officials there did not respond promptly to requests from BenarNews to confirm the information as relayed by her defense team. Varughese said Tommy Thomas may have his reasons for continuing the prosecution of Doan Thi Huong in Kim Jong-nam's murder.

European clubs say will boycott FIFA's Club World Cup
Infantino's push to expand the 2022 edition is being forced on hosts Qatar and will require significant changes to its plan. He added that VAR will be used in the tournament, "the same as we did for the men's World Cup".

New Zealand shooting: suspect Brenton Tarrant in court charged with murder
Grieving members of the public following a shooting at the Al Noor mosque in Christchurch, New Zealand , March 15, 2019 . Two other people were in custody but had not been charged and the third did not appear to be connected to the shootings.

Taylor Swift debuts pink hair at iHeartRadio Music Awards
The dark and stormy Reputation album seemed to be reflected through her past Insta feed, which was also dark and twisty. And then, of course, her shots from the iHeartRadio awards were all butterflies, hearts and sunshine.

Celebrate Pi Day With Math (Not Pie)
With 7NOW, the convenience store chain's delivery service, get up to two whole pizzas for $3.14 each. To find your local pizza restaurant, you can visit their website and use the store locator tool.

Aussie dollar falls as U.S., China delay trade meeting; sterling falls
Gold hit almost a two-week high as tepid USA economic data reinforced views the Fed would be patient on monetary policy. The U.S. central bank's rate-setting committee will issue its next policy statement following its March 19-20 meeting.