Waymo is Alphabet's autonomous driving subsidiary, operating the Waymo One robotaxi service across 10 U.S. metropolitan areas with 500,000+ paid rides per week. The company raised $16 billion in February 2026 at a $126 billion post-money valuation, led by Dragoneer, DST Global, and Sequoia Capital, with Alphabet contributing ~$13B as the anchor investor. According to Sacra, revenue reached $355 million annualized in February 2026, growing 127% year-over-year. Waymo plans to expand to 20+ additional cities in 2026, including Tokyo and London. Waymo stock is not independently traded. Accredited investors can access Waymo shares through UpMarket, a FINRA-registered broker-dealer, with a $50,000 minimum investment.
Waymo Revenue and Growth
$125M
2024
$284M
2025
$355M
Feb 26E
127%
2025 YoY Growth
500K+
Paid Rides/Week
10
U.S. Metro Areas
Source: Sacra. Revenue figures are annualized run-rates.
Why Investors Are Watching Waymo
$126B
Valuation (Feb 2026)
$355M
Revenue Run-Rate
500K+
Weekly Rides
10
U.S. Metro Areas
Funding
$16B Raised at $126B Valuation
Waymo's February 2026 round is the single highest-value AV funding round on record. The round was led by Dragoneer, DST Global, and Sequoia Capital, with Alphabet contributing ~$13B as the anchor investor. Valuation jumped 180% from the $45B implied by the October 2024 round.
Waymo, Bloomberg, CNBC · Feb 2026
Milestone
500,000+ Paid Rides Per Week
Ride volume doubled in under a year, from ~250K in mid-2025 to 500K+ by March 2026. Waymo is targeting 1 million rides per week by year-end.
TechCrunch, InsideEVs · Mar 2026
Expansion
10 U.S. Cities, 20+ Planned
Now operating in Phoenix, San Francisco, Los Angeles, Austin, Atlanta, Miami, Dallas, Houston, San Antonio, and Orlando. Expanding to Denver, Detroit, Las Vegas, Nashville, San Diego, Washington D.C., and going international with Tokyo and London.
Waymo, Electrek · 2026
Revenue
127% Revenue Growth
Revenue grew from $125M (2024) to $284M (2025) to a $355M annualized run-rate in February 2026. 14 million total trips completed in 2025.
Sacra · 2026
International
Tokyo and London: First International Markets
Waymo's first operations outside the U.S. Tokyo and London launches planned for 2026, marking a shift from domestic-only to global deployment.
Waymo · 2026
Competition
Travis Kalanick's Atoms
Former Uber CEO launching a competing self-driving venture with Uber backing. Potential challenger, though Waymo's scale advantage (3,000 robotaxis, 200M+ autonomous miles) is substantial.
TechCrunch, The Information · Mar 2026
Partnership
Uber Partnership
Waymo rides available through the Uber app in Atlanta and Austin, extending distribution to Uber's massive user base. Uber partnership was the vehicle for several city launches.
Various · 2025-2026
Scale
3,000 Robotaxis, 200M+ Miles
Fleet of 3,000 autonomous vehicles across the U.S. Over 200 million fully autonomous miles logged. The most widely deployed commercial robotaxi operation in the U.S.
Waymo · Mar 2026
Private market investments carry meaningful risks, including illiquidity and possible total loss of capital.
Waymo is not independently traded on public exchanges. As an Alphabet subsidiary, Waymo shares are available through private market transactions. UpMarket provides accredited investors access through secondary market offerings.
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Verify accredited investor status
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PPM review, fee analysis, and portfolio-fit evaluation support.
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Fund your investment
Minimum typically $50,000. Wire or ACH. Monitor via UpMarket portal.
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Waymo Stock FAQ
Is Waymo publicly traded?
No. Waymo is a wholly-owned subsidiary of Alphabet (GOOGL). It does not have its own stock ticker or separate public listing. Investors cannot buy Waymo shares on any stock exchange. However, accredited investors can access Waymo shares through secondary market platforms like UpMarket.
Can I buy Waymo stock?
Yes, through UpMarket's private market access. While Waymo doesn't trade on public exchanges, accredited investors can purchase shares through secondary market transactions. Fill out the form above or sign up directly. Subject to availability.
How does Waymo make money?
Waymo generates revenue through its Waymo One robotaxi service, a pay-per-ride model. Passengers request rides through the Waymo app (or Uber), and pay per trip. Revenue reached $355 million annualized in February 2026, up 127% year-over-year. The company completed 14 million trips in 2025.
Is Waymo part of Google?
Waymo is owned by Alphabet, Google's parent company. It originated as Google's Self-Driving Car Project in 2009, then became a separate subsidiary called Waymo in 2016. Alphabet contributed ~$13 billion of Waymo's $16 billion February 2026 funding round.
Waymo vs Tesla FSD: what's the difference?
Waymo operates fully autonomous Level 4 vehicles with no human driver in specific cities (geofenced). Tesla FSD is Level 2 driver-assistance, requiring constant human supervision. Waymo uses lidar + cameras + radar; Tesla relies on cameras only. Waymo provides a commercial ride-hailing service; Tesla FSD is a feature sold to car owners.
Who are Waymo's competitors?
Tesla FSD (Level 2, camera-only approach), Cruise/GM (paused operations), Zoox/Amazon (developing purpose-built robotaxi), Atoms (Travis Kalanick's new venture with Uber backing), and Baidu Apollo (China).
What is Waymo's valuation?
Waymo's February 2026 funding round valued the company at $126 billion post-money, up 180% from the $45 billion implied by the October 2024 round. UpMarket's proprietary model estimates $142 billion as of April 2026. For informational purposes only.
When will Waymo IPO?
No confirmed IPO date. As a subsidiary of Alphabet, Waymo does not need to IPO for funding. A potential spinoff or separate listing has been discussed by analysts but not announced by the company.
What are the risks of investing in Waymo?
Illiquid, no guaranteed exit. Dependent on Alphabet's strategic decisions. Regulatory risk across multiple jurisdictions. Competition from Tesla and new entrants. Technology risk (safety incidents could set back expansion). High capital expenditure. Consult your own advisors before investing.
How do pre-IPO trades work?
Accredited investors purchase from existing shareholders through secondary market platforms. Waymo (through Alphabet) does not issue new shares in these transactions.
How do I exit my investment?
Sell on secondary market or hold until IPO/spinoff/acquisition. Timing is unpredictable.
What is the minimum investment in Waymo on UpMarket?
The minimum for most Waymo offerings is $50,000. May vary by offering and share class. No fees to create an account.
How does UpMarket estimate Waymo's valuation?
Proprietary model using funding round data (Caplight), revenue data (Sacra), secondary market pricing, and public company comparables. Current estimate: $142 billion. For informational purposes only.
What cities does Waymo operate in?
As of March 2026, Waymo operates in 10 U.S. metro areas: Phoenix, San Francisco, Los Angeles, Austin, Atlanta, Miami, Dallas, Houston, San Antonio, and Orlando. Expansion to 20+ additional cities is planned, including international launches in Tokyo and London.
How many rides does Waymo give per week?
Over 500,000 paid rides per week as of March 2026, doubling from ~250,000 in mid-2025. Waymo is targeting 1 million rides per week by end of 2026.
GM's AV unit. Paused operations in 2024. Waymo's closest direct competitor.
Bottom Line: Waymo Stock
Waymo is the world's leading autonomous ride-hailing service, providing 500,000+ paid rides per week across 10 U.S. metropolitan areas with a fleet of 3,000 robotaxis. Revenue reached $355 million annualized in February 2026, growing 127% year-over-year. Raised $16 billion in February 2026 at a $126 billion valuation, led by Dragoneer, DST Global, and Sequoia Capital, with Alphabet as anchor investor.
Accredited investors can access Waymo shares through UpMarket, a FINRA-registered broker-dealer that has brokered over $1 billion in alternative investments since 2019. All private market investments involve risk, including potential loss of principal. Past performance is not indicative of future results.
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