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Waymo

SubsidiaryFounded 2009🇺🇸Mountain View, CaliforniaCEO Dmitri Dolgov (Co-CEO) & Tekedra Mawakana (Co-CEO)

Waymo is Alphabet's autonomous-driving company and operator of the world's first autonomous ride-hailing service. It serves paid riders in 15 U.S. metro areas through Waymo One.

Latest update Oct 18, 2026

01

Overview

Its homepage still lists 20M+ lifetime rides, and CNBC on October 3, 2026 restated more than 500,000 paid rides per week and more than 4,000 U.S. commercial vehicles, with Texas DMV records as of October 2 showing 1,154 authorized vehicles including 359 Ojai models. On October 2, 2026 Flexdrive by Lyft held a ribbon-cutting for an 80,000-square-foot Nashville depot in a former post office near the airport; Waymo vehicles are due to begin using the site on October 12. A first-ever $3B-plus unrated debt raise with Pimco, Blackstone, and Sixth Street, reported September 2 as unsigned talks expected to close within days, had not been confirmed as closed by Waymo or the lenders as of October 6. Alphabet had not published Q3 2026 results. Singapore paid service remains targeted for 2028 after 2027 mapping. SFMTA said robotaxis including Waymo will be geofenced off San Francisco's northern waterfront during Fleet Week, October 9-11.

waymo.comUpdated Oct 6, 2026

Analysis · 5 min read · Jun 22, 2026The long view on Waymo: strategy, technology and what to watch

02

What's next10

  1. 2026–2027

    Scale the Ojai fleet across additional metros

    Waymo opened the Ojai robotaxi to all riders (not just the select group it had run since May) in San Francisco, Los Angeles, and Phoenix on August 19, 2026, adding accessibility features like embedded Braille and screen-reader support plus an in-cabin Gemini assistant. Ojai then expanded to Denver and San Diego with their September 1, 2026 public launches, where it is currently the only bookable vehicle, and Las Vegas opened September 14 with a majority-Ojai launch fleet of dozens of minivans. Fleet trackers around Waymo's Mesa, Arizona integration facility estimated roughly 300 Ojai units in active commercial public service nationwide as of early September 2026 - up from about 100 in late July - with a further ~2,900 additional units in various stages of integration, calibration, storage, or reserve at the same site, pointing to substantial further ramp room toward Waymo's stated goal of thousands of Ojai robotaxis on the road by year-end (scaling to tens of thousands per year). Waymo continues importing Zeekr-built bodies from China (3,200+ to date) despite a 102.5% U.S. tariff to keep that pipeline fed.

  2. 2026-2027

    Turn queued U.S. metros into live service

    On July 8, 2026 Waymo began fully driverless operations in four new metros - Las Vegas, San Diego, Tampa, and Denver - starting rider-only with Alphabet employees before opening to the public. On September 1, 2026 Waymo converted that employee-only pilot into paid public service in Denver, San Diego, and Tampa; on September 14 it began rolling public invites in Las Vegas, bringing its total US footprint to 15 metro areas. Denver and San Diego riders can currently only book the Ojai, and Las Vegas launched with a majority-Ojai fleet of dozens of minivans covering a nearly 24-mile area (Strip south of Highway 589 into Boulder Junction, Allegiant Stadium, Chinatown, UNLV, Spring Valley). Full unrestricted Las Vegas access, beyond the 100,000-plus interest-list invites, is still ahead. On September 17, 2026 Waymo resumed paid San Antonio rides, including the airport, after an April flood pause, with new riders still on a waitlist. Nashville opened to the public on June 25, 2026, and on September 9, 2026 Lyft said Waymo rides are live in its Nashville app, the first U.S. market where the same driverless fleet is available on both the Waymo and Lyft apps. On August 4, 2026 Dallas dropped its interest-list waitlist for full public access after roughly 150,000 people had signed up since its February 2026 commercial launch, though freeway and Dallas Love Field airport routes remain in testing with no public date set. Beyond those, Detroit is Waymo's confirmed next Midwest market for 2026, with 6th-generation Driver testing underway (including cold-weather validation in Michigan's Upper Peninsula) ahead of winter service; Washington, D.C. remains blocked on a change to local law banning fully driverless operation without a safety driver, with a city council bill (the Autonomous Vehicle Deployment Authorization Amendment Act of 2026) introduced to lift that restriction but not yet passed as of early September 2026; and Seattle remains in supervised testing and mapping with no launch date set. On September 18, 2026 Waymo said it is now driving fully autonomously in Pittsburgh with a safety technician, after PennDOT authorized autonomous testing in February; commercial driverless service still needs state permission and has no public date. On August 14, 2026 the California Public Utilities Commission separately approved Waymo to expand across 18 counties spanning the Bay Area and Southern California down to the Mexican border, plus first-time entries into Sacramento and San Diego. On August 13, 2026 Waymo and the Las Vegas Raiders announced a multi-year deal making Waymo the team's official autonomous ride-hailing partner for Allegiant Stadium. On August 20, 2026 Waymo opened Houston to anyone with the app, dropping the interest-list requirement after more than 100,000 people had signed up since the city's February 2026 commercial launch. The next step is converting Las Vegas from rolling invites to full public access, dropping the San Antonio waitlist, the newly CPUC-cleared California counties, and the remaining Up Next cities into full public commercial service.

  3. 2026-2028

    Start international service

    Translate current Tokyo, London, Munich, and Singapore market preparation into Waymo's first commercial launches outside the United States. London is still targeted for a fully driverless launch by the end of 2026 with a ~100-vehicle Jaguar I-PACE fleet operated with Moove, but Uber and Wayve opened a supervised (safety-driver) paid service in London on September 3, 2026. On September 15, 2026 Waymo, GO, and Nihon Kotsu set a 2027 target for Japan's first fully unmanned Level 4 commercial taxi in Tokyo. Munich mapping toward an end-2027 EU launch continues. On September 18, 2026 Waymo added Singapore as its first Southeast Asian market, targeting paid service in 2028 after 2027 mapping. On September 7, 2026, Waymo managing director Steven Han said in Seoul that the company wants to enter South Korea after forming a Korean unit on July 24, with Hyundai Ioniq 5 verification tests underway and no launch date.

  4. H2 2026

    Respond to intensifying federal and state AV safety scrutiny

    NHTSA's end-of-July 2026 deadline for AV developers to explain how they will stop interfering with first responders passed without a formal investigation being opened, but Rep. Kevin Mullin's AV Emergency Response Coordination Act was formally introduced as H.R. 10033 and referred to the House Transportation & Infrastructure and Energy & Commerce committees on August 3, 2026, and San Francisco's mayor is separately pressing California regulators for stricter statewide AV rules after the July 4 fireworks-night gridlock. Waymo gained a counterweight to the incident-driven narrative on July 23, 2026 when the IIHS published a study finding its vehicles were involved in 68% fewer police-reportable crashes per mile than human drivers across four cities. That counterweight was complicated by an investigative report published August 10, 2026 finding Waymo has issued three federal recalls since December 2025, versus three across the prior 22 months, even as the company says its edge-case rate is falling with scale; the report cited a federal regulator's July letter stating 'Emergency scenes are not rare or extreme edge cases.' The safety debate sharpened further after the night of August 7, 2026, when a pedestrian struck by an SUV on a Dallas street was thrown into the path of an unoccupied Waymo and later died; Waymo said its vehicle detected the pedestrian and had slowed to about 5 mph before contact, and early police and analyst assessments point to the SUV as the primary cause. As of August 29, 2026 no fault determination or new NHTSA probe specific to the Dallas fatality had been confirmed, and H.R. 10033 remained in committee with no floor vote scheduled. Watch whether NHTSA opens a formal probe into either the first-responder pattern or the Dallas fatality, whether the Mullin bill advances out of committee, whether California tightens operating requirements, and whether the recall and incident trend or the IIHS findings end up shaping the regulatory conversation - any of which could affect the pace of Waymo's city and freeway expansion.

  5. End of 2026

    Cross 1 million paid rides per week

    Co-CEO Tekedra Mawakana has guided to more than 1 million paid robotaxi rides per week in the U.S. by the end of 2026, roughly doubling the ~500,000 weekly run-rate that has now held flat across multiple public disclosures since late March 2026 - even as Waymo's footprint grew to 15 metro areas (after the September 14, 2026 Las Vegas rolling public invite and the September 1 Denver, San Diego, and Tampa public launches) and its fleet passed 4,000 vehicles. That flat trip count implies per-vehicle utilization has fallen, so hitting 1M/week by year-end now looks like it needs either a large jump in ridership per vehicle or a fleet well above Waymo's current disclosed size. Independent forecasting firm FutureSearch, re-running its model on August 6, 2026 after Q2 earnings, projects a Q4 2026 median of only ~765,000 weekly rides (p10 590K, p90 1.03M), implying the 1M goal is more likely to be missed than hit absent a sharp acceleration - underscoring that the Ojai ramp and new-metro conversions (see below) are the swing factors. No newer weekly-ride figure had been disclosed beyond the ~500,000-plus mentioned alongside the September 1, 2026 metro launches; Alphabet's Q3 2026 earnings (expected late October) will be the next official checkpoint.

Target date passed, awaiting update · 1

  1. Sep 2026

    Close the first-ever $3B+ debt financing

    Waymo is in the final stages of arranging its first debt raise - more than $3 billion in unrated debt from Pimco, Blackstone, and Sixth Street Partners at a spread over 500 basis points above the benchmark rate, advised by Goldman Sachs - reported by Bloomberg on September 2, 2026 as expected to close within days. As of September 18, 2026 no close had been confirmed by Waymo or the lenders, so the raise remains pending more than two weeks after that report. Closing would mark Waymo's shift from relying solely on Alphabet-led equity rounds toward layering in debt to fund fleet scaling and rising AI compute costs.

03

Latest news50

  1. Waymo starts limited rides at Nashville airport

    On Oct. 13, 2026 Waymo said it serves Nashville International Airport, with pickups and drop-offs in Terminal Garage 2 for a limited number of riders. Access is meant to widen until all riders are included. WSMV confirmed that Waymo announced that day that airport trips were starting and would roll out gradually in the Waymo app.

    support.google.com www.wsmv.com

  2. Waymo starts Toronto mapping and aims for riders in 2028

    On October 16, 2026 Waymo said it is preparing a fully autonomous ride-hailing service in Toronto, its first planned city in Canada, with a goal of welcoming first riders in 2028. Manual mapping drives are to begin in the coming days with specialists behind the wheel. Element Fleet Management, already supporting Waymo in San Diego, will handle Toronto fleet operations, and Waymo said the work will add hundreds of roles over time.

    waymo.com www.prnewswire.com

  3. Waymo opens San Antonio, San Diego and Tampa to everyone

    On October 14, 2026 Waymo said anyone in San Antonio, San Diego and Tampa can download its app and hail a fully autonomous ride, including trips at San Antonio International Airport. The company said those cities had already served hundreds of thousands of riders since service opened earlier in the year. KSAT confirmed the same day that San Antonio was open to all riders, including the airport.

    waymo.com www.ksat.com

  4. Waymo closes $5 billion first debt financing

    Waymo CFO Steve Fieler said on Oct. 8, 2026 that Waymo closed a $5 billion term loan, its first debt financing, with PIMCO, Blackstone, and Sixth Street as lead syndicated lenders and Goldman Sachs as sole lead bookrunner. The company said the loan supports expansion of fully autonomous ride-hailing in the United States and internationally after a $16 billion equity round earlier in 2026. This is the close of the financing Bloomberg had described on Oct. 6 as an unsigned upsize to $5 billion; Waymo did not disclose rate, tenor, or collateral.

    waymo.com techcrunch.com

  5. Waymo starts fully driverless Detroit runs for employees

    Waymo told the Detroit Free Press on Oct. 6 that it is operating fully autonomous vehicles in Detroit, with rides limited for now to employees. Spokesman Chris Bonelli said the company will keep driving downtown and nearby neighborhoods including Corktown, Midtown, Hamtramck and Indian Village, and will open public rides after it validates the technology and local operations. Public rider service has not started.

    www.freep.com www.clickondetroit.com

04

Products2

05

Key metrics

Employees
~4,750

LinkedIn company-page headcount as of September 2026; Waymo does not publicly disclose headcount - Wikipedia still cites an older ~2,500 figure

Est. annual revenue
Not separately disclosed by Alphabet

($126B post-money valuation per Feb 2026 round); independent research firm Sacra estimated an annualized run rate of roughly $355M as of February 2026, up from ~$284M at end of 2025; no newer Sacra or third-party estimate had been published as of September 18, 2026, and Alphabet had not yet reported Q3 2026 results

Lifetime Rides
20M+

homepage still lists '20M+ rides served' as of September 18, 2026; no newer cumulative total has been disclosed since the end-2025 crossing, and Alphabet had not yet reported Q3 2026 results

Weekly Paid Rides
500,000+ per week

restated on Waymo's homepage and Singapore page as of September 18, 2026, unchanged in substance since late March 2026 even as the footprint reached 15 metros with the September 14 Las Vegas rolling public invite and the fleet passed 4,000 vehicles. Independent forecasting firm FutureSearch (model re-run August 6, 2026 after Q2 earnings) still projects a Q4 2026 median of ~765,000 weekly rides (p10 590K / p90 1.03M), short of Co-CEO Mawakana's 1M/week year-end goal unless ridership per car recovers. Alphabet's Q3 2026 earnings (expected late October) will be the next official checkpoint

Commercial Metro Areas
15 U.S

metros as of September 14, 2026 after Las Vegas opened on rolling public invites (Atlanta, Austin, Dallas, Denver, Houston, Los Angeles, Miami, Nashville, Orlando, Phoenix, San Antonio, San Diego, San Francisco Bay Area, Tampa, plus Las Vegas). San Antonio paid rides resumed September 17, 2026 after an April flood pause, including airport trips, with new riders still on a waitlist. Las Vegas is invite-only for now, with more than 100,000 interest-list signups, and is not yet fully open to anyone with the app. The NTA has authorized up to 1,000 Waymo AVs in Clark County. Nashville is also live on the Lyft app as of September 9, 2026

Service Coverage

~1,400 sq mi as of the May 13, 2026 11-city expansion, plus three new public markets (Denver, San Diego, Tampa) that Waymo said start at roughly 150 square miles each; no newer company-published aggregate square-mileage figure as of September 13, 2026

Fleet Size

More than 4,000 vehicles in commercial service as of the September 1, 2026 three-city public launch (Waymo and CNBC), including Jaguar I-PACE hatchbacks and the Zeekr-built Ojai; TechCrunch put the in-service Ojai fleet at about 300 as of that launch, with further units still integrating at the Mesa, Arizona factory

Valuation
$126B post-money

February 2026 $16B growth round; no newer equity round as of September 18, 2026. A first-ever $3B+ unrated debt raise with Pimco, Blackstone, and Sixth Street was reported near close on September 2 and had not been confirmed as closed by September 18

Safety Record (IIHS Study)
IIHS

(July 23, 2026): 68% fewer police-reportable crashes per mile than human drivers across San Francisco, Phoenix, Los Angeles, and Austin (85% fewer single-vehicle crashes, 81% fewer injury crashes) on ~50M Waymo miles vs 222B human-driven miles, 2021-2024. Waymo's own homepage (as of September 2026) separately claims a 92%+ reduction in reported serious-injury-or-worse crash rates where it operates, including 94% fewer serious-injury crashes and 82% fewer injury-causing crashes versus an average human driver over the same distance in its operating cities. No newer IIHS study has superseded the July paper

Autonomous miles (company, June 2026 cutoff)

More than 270 million fully autonomous miles through the end of June 2026, per Waymo's September 24, 2026 safety post covering Atlanta, Austin, Los Angeles, Phoenix and San Francisco. The Safety Impact hub still listed 220.6 million rider-only miles through March 2026.

Fleet Size

More than 4,000 vehicles in commercial service. TechCrunch (Sept 24): about 80% in California and Texas; 1,102 registered in Texas as of September 24 (up 49% in three weeks); Ojai about one-third of the Texas fleet. MoffettNathanson: on track for 5,100 Ojai imports by year-end.

Debt financing

First-ever $3B-plus unrated debt with Pimco, Blackstone, and Sixth Street still unconfirmed as closed as of September 30, 2026. Latest primary account remains Bloomberg/Transport Topics September 2: unsigned talks, Goldman Sachs advising, terms could change, all parties declined to comment.

Debt financing

First-ever $3B-plus unrated debt with Pimco, Blackstone, and Sixth Street still unconfirmed as closed as of October 6, 2026. Latest primary account remains Bloomberg/Transport Topics September 2: unsigned talks, Goldman Sachs advising, terms could change, all parties declined to comment. Waymo blog through September 24 has no close post.

Weekly Paid Rides

500,000+ per week, restated October 3, 2026 by CNBC and still listed as 500K+ trips/week on Waymo's Singapore page. Unchanged in substance since late March 2026 even as the footprint is 15 metros and the fleet is more than 4,000 vehicles.

Debt financing
Bloomberg Oct

6, 2026: inaugural private loan increased to $5 billion from more than $3 billion, priced 5.25 percentage points over the benchmark, with Pimco, Blackstone and Sixth Street among lenders and Goldman Sachs arranging; allocated and expected to close soon. Waymo has not announced it. Not confirmed closed.

06

Operations & revenue

Operating status

Operational; Toronto mapping next; BNA airport service limited

On Oct. 16, 2026 Waymo said Toronto mapping drives begin in the coming days, with first riders targeted for 2028. On Oct. 13 it said a limited set of riders can use Nashville International Airport, with pickups in Terminal Garage 2. San Antonio, San Diego and Tampa remain open to all riders.

Revenue streams

  • Waymo One (Direct Ride-Hailing)

    Core commercial ride-hailing business booked through the Waymo app across Waymo's company-operated service areas.

  • Network Distribution Partnerships

    Waymo distributes rides through partner apps in selected markets, with Uber managing the fleet and demand in Austin and Atlanta (through an exclusivity period ending January 2028), and a Lyft + Flexdrive partnership bringing Nashville online in 2026.

  • Autonomous Delivery Partnerships

    Waymo is extending its driver platform into delivery, with DoorDash users in Phoenix able to receive autonomous deliveries. After ending its Phoenix ride-hailing distribution deal with Uber in late June 2026, Waymo redirected the freed-up Phoenix vehicles toward DoorDash deliveries, deepening this stream.

07

Track record

How past announced dates turned out.

1/2announced dates hit on time

  • 1 Hit
  • 1 Slipped
  • 0 Missed
  1. Hit

    Confirm whether the Pimco, Blackstone, and Sixth Street $3B-plus debt raise closed

    Target Confirm lender set, amount, and close date after Alphabet Q3 2026 results; calendars list October 28 but abc.xyz/investor had not confirmed the date · Resolved Oct 8, 2026

    Waymo CFO Steve Fieler said Oct. 8, 2026 that Waymo closed a $5 billion term loan with PIMCO, Blackstone, and Sixth Street as lead syndicated lenders and Goldman Sachs as sole lead bookrunner. Rate, tenor, and collateral remain undisclosed.

  2. Slipped

    Confirm whether the Pimco, Blackstone, and Sixth Street $3B-plus debt raise closed

    Target After September 2026; confirm lender set, amount, and close date · Resolved Oct 6, 2026

    September 2026 passed without a Waymo, Pimco, Blackstone, Sixth Street, or Goldman Sachs close announcement. Transport Topics reprint of Bloomberg September 2 remains the last primary account and still describes ongoing unsigned talks. Waymo's blog index through September 24 has no close post. Do not treat FXBus as confirmation.

08

Timeline62

  1. 2026

    1. Starts limited service at Nashville International Airport

      On Oct. 13, 2026 Waymo said pickups and drop-offs at Nashville International Airport are available in Terminal Garage 2 for a limited number of riders, with access widening over time.

    2. Starts Toronto mapping and targets riders in 2028

      On October 16, 2026 Waymo said it is preparing fully autonomous ride-hailing in Toronto, its first planned Canadian city, with first riders targeted for 2028. Manual mapping drives with specialists behind the wheel are to begin in the coming days. Element Fleet Management will provide end-to-end fleet operations, extending a San Diego partnership announced in June, and Waymo said the work will add hundreds of roles over time.

    3. Tampa station confirms all-rider access; Ojai claim is not in Waymo's post

      NewsRadio WIOD reported that on 14 October 2026 Waymo opened Tampa to anyone in the app, with no invitation code, across about 50 square miles including downtown, Hyde Park, Westshore, and Ybor City. KSAT said a Waymo news release included the Ojai in the San Antonio opening. Waymo's own 14 October post names San Antonio, San Diego, Tampa, and the San Antonio airport, and does not name Ojai or a vehicle type. ClickOnDetroit's 6 October report still says Detroit rides are employee-only in downtown, Corktown, Midtown, Hamtramck, and Indian Village, with no public date and no paid service-area size.

    4. Opens San Antonio, San Diego and Tampa to everyone

      On October 14, 2026 Waymo said anyone in San Antonio, San Diego and Tampa can download the Waymo app and hail a fully autonomous ride, including San Antonio International Airport. The company said those cities had already welcomed hundreds of thousands of riders since opening earlier in the year. KSAT confirmed San Antonio was open to all riders the same day.

    5. Closes $5 billion first term loan

      CFO Steve Fieler said Waymo closed a $5 billion term loan on Oct. 8, 2026, its first debt financing, with PIMCO, Blackstone, and Sixth Street as lead syndicated lenders and Goldman Sachs as sole lead bookrunner.

    6. Bloomberg says debut loan upsized to $5B

      Bloomberg reported on Oct. 6, 2026, citing people familiar with the financing, that Waymo increased its first private loan to $5 billion from more than $3 billion sought earlier. Pimco, Blackstone and Sixth Street were among lenders, Goldman Sachs arranged, and the loan priced at 5.25 percentage points over the benchmark. Reports said it was allocated and expected to close soon. Waymo has not announced the deal, and it is not confirmed closed.

    7. Starts fully driverless Detroit runs for employees

      Waymo told Detroit media on October 6 that it is operating fully autonomous vehicles in Detroit, with rides limited to employees. Spokesman Chris Bonelli said operations remain around downtown, Corktown, Midtown, Hamtramck and Indian Village until public rides open after local validation. Public rider service has not started.

    8. SFMTA geofences robotaxis off the northern waterfront for Fleet Week

      On October 5, 2026 SFMTA said autonomous rideshare, including Waymo, will have designated pick-up and drop-off boundaries Friday through Sunday, October 9-11, from 10 a.m. to 6 p.m., to reduce congestion and protect pedestrians near the waterfront. Traditional Uber, Lyft, and taxi services are not geofenced. No autonomous rideshare in The Presidio.

09

Funding

$29.4Bdisclosed across 5 rounds with a stated amount

Cumulative disclosed raise · dated rounds

$10B$20B$30B2020202220242026$29B raised
  1. First External Round

    March 2020

    $2.25B

    Silver Lake, CPP Investments, Mubadala, Magna, Andreessen Horowitz, AutoNation, Alphabet

  2. Investment Round

    June 2021

    $2.5B

    Alphabet, Andreessen Horowitz, AutoNation, CPP Investments, Fidelity, Magna, Mubadala, Perry Creek, Silver Lake, T. Rowe Price, Temasek, Tiger Global

  3. Oversubscribed Investment Round

    October 2024

    $5.6B

    Alphabet, Andreessen Horowitz, Fidelity, Perry Creek, Silver Lake, Tiger Global, T. Rowe Price

  4. Growth Round

    February 2026

    $16B

    Dragoneer, DST Global, Sequoia, Andreessen Horowitz, Mubadala, Bessemer, Silver Lake, Tiger Global, T. Rowe Price, Alphabet and others

  5. First Debt Financing

    September 2026 (pending close as of September 18)

    $3B+ (unrated, >500bps spread over benchmark)

    Pimco, Blackstone, Sixth Street Partners (advised by Goldman Sachs)

All Robotaxis