Uber Raises 1 Billion dollars for self-driving Cars.On the eve of his IPO, Uber raised 1 billion dollars for the self-driving car division.
The money comes from three Japanese investors: SoftBank, Toyota and Denso.
It brings the value of the self-driving car department to 7.25 billion dollars.
Such a big deal is exceptional just before an IPO because new investors are developing the capital structure of a company.
Uber has planned its IPO in New York for the beginning of May.
The company expects to raise 10 billion dollars.
On Wall Street, concerns were increased about spending on the self-driving car division,
to which Uber has spent 1.07 billion dollars since the program began in 2016.
The costs for this branch have now been transferred to the investors.
