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Uber announced on Monday that it would sell its self-driving-car unit to the startup Aurora. ... Aurora has roughly 600 employees, while Uber’s ATG group has about 1,200 employees, many of them based in Pittsburgh, long an epicenter of robotics thanks to Carnegie Mellon University. Instead, Uber UBER, -1.72% will invest $400 million into Aurora as part of the deal and will retain a 26% stake in the startup, according to a filing with the Securities and Exchange Commission. The ride-hailing company will invest $400 million in the business. UBER stock was bought by a variety of institutional investors in the last quarter, including Woodstock Corp, and Fulton Bank N.A.. Company insiders that have bought Uber Technologies stock in the last two years include Dara Khosrowshahi, and Robert Eckert. The ride-hailing giant said late Monday that its autonomous-driving unit ATG would be acquired by Aurora Innovation Inc., a … The next step is a computer-driven car but with a human behind the wheel, before moving onto a computer-driven car with a human behind the wheel and a passenger (you!) In a sign of investors' meager appetite for driverless-car ventures, Uber Technologies Inc. isn't so much selling its ill-fated project as paying a rival to take it on. View real-time stock prices and stock quotes for a full financial overview. Aurora announced its acquisition of Uber’s Advanced Technology Group (ATG) in a complex deal that is an all-stock transaction. Instead, Uber is handing over its equity in ATG and investing $400 million into Aurora, which will give it a 26% stake in the combined company, according to a filing with the U.S. Securities and Exchange Commission. The ATG and Other Technology Programs segment primarily responsible for the development and commercialization of autonomous vehicle and ridesharing technologies, as well as Uber Elevate. Uber ATG is valued at $7.25 billion. Stock Analyst Update Uber Plans to Sell ATG; Profitability Path Clearer We're raising the technology firm's fair value estimate to $61 per share. Industry observers had speculated for weeks about the deal, especially after ride-sharing rival Lyft Inc.’s $2.3 billion initial public offering last month. The company was founded by Oscar Salazar Gaitan, Travis Kalanick and Garrett Camp in 2009 and is headquartered in San Francisco, CA. Apparate was the shell company Uber … When you see our vehicles on the road, you can rest assured that they’re doing important work that supports our efforts to deliver safe, reliable self-driving transportation. The equity deal valued the ATG at $4 billion, according to people familiar with the matter. The ATG and Other Technology Programs segment engages in the development and commercialization of autonomous vehicle and ridesharing technologies, as well as Uber Elevate. The Aurora Driver software platform will have more opportunities and will continue to focus on its three main use-cases: autonomous trucks, goods AVs and robotaxis. By Krystal Hu, Tina Bellon and Jane Lanhee Lee (Reuters) -Uber Technologies Inc is selling its autonomous driving unit, Uber (NYSE: UBER) Advanced Technologies Group (ATG), to self-driving car startup Aurora, the companies said on Monday, in a move that would accelerate the ride-sharing company’s goal to achieve profitability. By Krystal Hu, Tina Bellon and Jane Lanhee Lee (Reuters) -Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the companies said on Monday, in a move that would accelerate the ride-sharing company's goal to achieve profitability. Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the companies said on Monday, in a move that would accelerate the ride-sharing company's goal to achieve profitability. Uber's self-driving unit, the Advanced Technologies Group (ATG), has an estimated valuation of over $7 billion, representing more than10% of Uber's current market cap of about $61 billion. Investors should expect continued pressure on the stock … UBER | Complete Uber Technologies Inc. stock news by MarketWatch. Now what. Uber will receive stock in Aurora, a startup working on autonomous vehicle technology. View Uber Technologies, Inc. UBER investment & stock information. Uber shares are now down 31% since the coronavirus sell-off began, worse than the 18% decline in the S&P 500. Following the sale announced on Monday, Uber is also investing $400 million in Aurora, which values Aurora at $10 billion, the people added. Request Access. ... Freight, Other Bets and ATG and Other Technology Programs. Uber's stock was down less than a percent Monday, following the close of markets. Uber said it would hold a roughly 26% stake in Aurora on completion of the deal. The partnership will also give Aurora a connection with an auto manufacturer, Toyota, which has invested in Uber ATG. (Reuters) - Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the companies said on Monday, in a move that would accelerate the ride-sharing company's goal to achieve profitability. More. Toyota and DENSO said they will invest $667 million, and SoftBank will invest $333 million. Uber raised $1 billion for the ATG unit in July from a preferred stock sale of 14.3% of its Apparate subsidiary to Toyota, SoftBank and Denso. Uber Sells ATG Self-Driving Business to Aurora at $4 Billion. View More Companies. The ATG and Other Technology Programs segment engages in the development and commercialization of autonomous vehicle and ridesharing technologies, as well as Uber Elevate. Ride share giant Uber Technologies Inc (NYSE:UBER) is down 2.4% at $52.50 in this morning's trading, after the company announced its self-driving unit Advanced Technologies Group (ATG… Uber will not be the first beneficiary of ATG's autonomous solutions. The company was formerly known as Ubercab, Inc. and changed its name to Uber Technologies, Inc. in February 2011. Uber ATG investors including ATG employees with equity will own another 14%. Buy or sell Uber Advanced Technologies Group stock pre IPO via an EquityZen fund. Instead, these will be directed to self-driving trucks. The equity deal valued the ATG at $4 billion, according to … The valuation of Aurora with ATG is $10 billion or about 4X of Aurora’s valuation in June 2019. In 2019, Uber ATG raised $1 billion from Toyota Motor, Japanese automotive components manufacturer, Denso Corp., and the SoftBank Vision Fund, which valued ATG at $7.25 billion last year. The two companies on Monday said that as part of the deal for the self-driving-car unit, known as Advanced Technologies Group, or ATG, Uber will make a $400 million cash investment in Aurora. The company announced tonight that Toyota, Denso and Softbank are investing a total of $1 billion in its Advanced Technologies Group (Uber ATG), in a … Uber ATG focuses … EquityZen is a marketplace for shares of proven pre IPO tech companies. The stock closed at $53.80 in New York and has jumped 81% this year. Uber Technologies has announced the sale of its autonomous vehicle technology business, ATG, to Aurora, an autonomous vehicle technology company, for an equity stake in Aurora. Uber ATG uses a phased approach in their autonomous driving ambitions by first having a human drive while the vehicle gathers information about the roads and conditions. The holiday season is a great time for investors to stock up on the best tech picks in retail and entertainment. This makes Aurora the largest AV developer—at least in number of employees. Of the 21 analysts who have studied UBER, 19 insist it is a “Buy” while two advise holding and zero recommend selling. Get the latest Uber Technologies, Inc. UBER detailed stock quotes, stock data, Real-Time ECN, charts, stats and more. Now that UBER has sold its self-driving ATG technology to Aurora, the company can squarely focus on serving its customers rather than attempting to advance autonomous driving tech. The company was formerly known as Ubercab, Inc. and changed its name to Uber Technologies, Inc. in February 2011. 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