Feb. 2 at 8:53 AM
$WRD
Here’s the recent Bloomberg article on Waymo, looking to raise
$16B (on a
$110B valuation). Note: That’s more than double its valuation from 15 months prior.
Waymo's annualized revenue run-rate recently topped
$350 million (on 450,000 weekly paid rides). That’s impressive. But, when annualizing WeRide’s Q3-Q2 it suggests ~
$165M run-rate, a fraction of Waymo’s
$350M but with 100%+ growth momentum.
Waymo commands a premium valuation more than 40X WeRide’s! If you take into consideration that WeRide is derisking through a broader AV domain, has regulatory spread and shorter monetising paths. Sure, Waymo has Google backing, and yes it has a larger (fully driverless) fleet. That you should weigh in. You can even throw in the “Chinese discount” argument. WeRides valuation seems a bit off.
Let’s hope markets recognises this, and the Waymo raise will help revalue all industry players, starting with the most beat up stock in AV, showing the most impressive industry growth.
