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Seems like a typo. GM is investing heavily into research and development. There jobs postings in Detroit for electrical and software engineering has skyrocketed
by FreedomToCreate 11y ago
Seems like a typo. GM is investing heavily into research and development. There jobs postings in Detroit for electrical and software engineering has skyrocketed. Being more objective and looking into Cruises history, they are not remotely worth 1 billion dollar, nor does it look like they have any technology that would be worth that much. Unless GM was that desperate and the Cruise guys amazing negotiators, I am skeptical on the 1 billion dollar price.
- jamesfzhang 11y agoGive them some credit beyond being "amazing negotiators." Have you used their kit? The publicly released one, or the one actively in development? How do you know if their tech isn't that valuable? EDIT: It's very hard to pinpoint an exactly value for R&D heavy startups. Their tech could easily be worth well over $1 billion if it plays a crucial role in developing & accelerating GM producing & selling driverless cars. Just know that GM sold $154 billion worth of car last year.
- deleted 11y ago[deleted]
- foobarqux 11y agoThey are probably behind in R&D and saw that as a critical risk. Moreover, there aren't any alternatives besides Cruise which pushed the price up.
- tommynicholas 11y agoDefinitely not a typo, validated by many sources, and the founder of Cruise already has 2 9 figures exits so selling for much less than this wouldn't make too much since to him 2 years in.
- shubhamjain 11y agoI guess Twitch.tv is the only startup the founder had an exit from.
- justin 11y agoAs one of the JTV founders, Kyle participated in the sale of Socialcam :)