Waymo in talks to raise $4 billion as key leaders’ exits

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Waymo is talking to outside investors to raise $4 billion in additional capital. And plans to list publicly, spinning out from its parent Alphabet Inc.

Since February, Waymo has lost six key executives in rapid succession, including its CEO, CFO and several key lieutenants. 

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Waymo, born as a moonshot inside google over a decade ago, has long been considered the standard bearer in autonomous driving, last year Waymo launched a ride-sharing service with driverless cars in Phoenix.

Yet critics have pointed out the company hasn’t delivered on pledges to bring that service to more cities and settled on a commercial model.

Recently, Waymo has poured money into self-driving trucks .Last October, Waymo signed an agreement with Daimler AG’s trucking division to begin equipping trucks with its self-driving software. Among the recent departures was Vijaysai Patnaik, an executive who ran Waymo’s trucking product.

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