Waymo's timing was prescient. In early March, when the severity of the crisis ahead had not yet become apparent, the company announced the creation of Waymo Via, a brand focused on goods delivery.
From long-haul trucking to one-off deliveries with its Chrysler Pacifica minivans, Via collects the company's delivery ambitions within a single business division.
During the coronavirus pandemic, interest in delivery has soared.
"The reality right now is that goods delivery is a bigger market than moving people," CEO John Krafcik told Reuters this month. While the company won't be commercializing its delivery services immediately, it has a burgeoning partnership with UPS Inc., started in January, that involves Pacificas specially outfitted for delivery. The partnership bears watching over the long term.
While Waymo has explored the delivery market in recent months, it has also raised its first external funding. In early March, Krafcik said the company had received $2.25 billion from investors in a round led by private equity firm Silver Lake Partners. In May, the company added to those coffers, with $750 million from T. Rowe Price, Perry Creek Capital and Fidelity Management and Research Co.
On the passenger-carrying side of its business, Waymo One, the company had suspended its driving operations in early March because of COVID-19 concerns. Those operations resumed in Phoenix on May 11. Working with AutoNation, another partner, Waymo says it is cleaning vehicles multiple times per day. Operations in San Francisco, Detroit and Los Angeles will restart in a matter of weeks.
