Uber has invested 680 million US dollars to acquire the shares of an auto-driving truck company (Otto) and stipulated in the agreement 20% of the profits of Uber's cargo business. When you hear this news, you will be shocked. The little friend was also shocked.
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To be precise, Uber and Otto are not "natural couples." Although Uber invests in two areas of autonomous driving and courier services, the company will focus on people, food and small items that are strolling around New York City. Uber has never mentioned that it will be involved in the long-haul freight industry, or create a logistics platform for drivers. Uber has never shown its ambition in this field.
In theory, Otto does not require the addition of companies like Uber. The company is a startup that has been known since its inception in May and currently has 91 employees. The company has exclusive technical rights and automatic driving technology, and has tested the auto-driving technology of its trucks at the San Francisco Expressway.
However, the purchase ratio enables both companies to accelerate their development in autonomous driving technology and commercialize the technology. Otto's core values ​​are to develop autonomous driving technology and help users achieve their safety benefits (reducing the incidence of traffic accidents). Shipping is just an operating model that puts its software on the market quickly. For Otto, cooperation with Uber can speed up the marketization of its software. At this point, the M&A case cannot be rejected.
Otto was founded by veterans who worked at Google (but no one has any experience in the cargo business) and they are eager to launch autonomous driving technology in the market. Although Google often calls itself a pioneer in the field of autonomous driving technology and the first company to test autonomous vehicles on public roads, the company has not explicitly disclosed the specific arrangements for technology marketization.
Not to mention Uber's advantages and platforms in logistics and transportation, with Uber's resources alone, Otto may introduce its autonomous driving technology to the market in advance and ensure its safety. Lior Ron, co-founder of Otto, told Recode: “When we talked with Uber for mergers and acquisitions, we realized that we needed to speed up, whether it was technology, expertise or resources. Both should accelerate the development of technology through mutual cooperation and cooperation.†He added: “The cooperation between the two companies is only for faster implementation of technology development and platform construction. We are still planning to be independent after Uber The operating platform business also has the ability to persuade the other party to make an informed decision."
For Uber, the incentive behind the merger is clear. After the acquisition of Otto, Uber is able to acquire the intellectual property rights of its proprietary autonomous driving technology, which will make a dramatic change in the vehicle. More importantly, you can also get an industry pioneer in charge of all of your autonomous driving technologies: Otto co-founder Anthony Levandowski, not to mention a new income. source.
Ron said: "Anthony has always been passionate about autonomous driving technology and future development. We don't think Otto should be excluded. The two companies should work together to create a better future. Cars and trucks driving on the road should not be isolated. Both should also be interconnected through intelligent network technology. When you drive on the road and see a truck, you will want to interconnect the truck with the same security mechanism. The two owners can even share a map, and the sensor technology of both sides is exactly the same. This means that the technology platform is very similar, we will bring the most attention-oriented and most comprehensive solutions to the market."
Although Uber entered the Chinese market earlier this month. Clearly, Uber intends to focus its company on other areas: optimizing UberPool, winning the Indian market and developing autonomous driving technology. As the company's focus is on the IPO in 2017, Uber needs to invest more in autonomous driving technology, introducing some self-driving cars to the test model. Today, Uber holds the exclusive right to the technology through this acquisition, and in theory can transform any vehicle into an autonomous vehicle. This content also belongs to the company's M&A benefits.
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