Patrick Morrisey, VP of corporate communications at GM, told TechCrunch that the reduction in spending is still in effect, despite today’s capital infusion.
In total, Cruise has already raised over $15 billion, per Crunchbase data.
In October, a Cruise robotaxi ran over and dragged a pedestrian 20 feet in San Francisco.
The pedestrian had initially been hit by a human-driven car and landed in the path of a Cruise robotaxi.
In other states where AV companies don’t need to acquire permits, Cruise is already making a comeback.
That was also the year SpaceX launched its first 60 Starlink satellites.
The company was spending plenty of cash on research and development, too — $559 million in 2018 and $661 million the following year.
The Starlink program completed a milestone in 2019, when SpaceX launched the first batch of operational Starlink satellites in May of that year.
The company ended the year with cash and cash equivalents of $868 million for 2018 and $990 million for 2019.
The company launches its Starlink satellites with its own rocket, its Falcon 9 workhorse, which means it can launch the space-based internet satellites at unprecedented rates.
If such a deal were to happen, the cost would likely be pretty substantial, involving some significant premium over the current value.
While Google/Alphabet has been extremely acquisitive over the years, the largest deal that it’s ever made was spending $12.5 billion for Motorola Mobility in 2011.
More recently the largest deal involved spending $5.4 billion for security intelligence platform Mandiant in 2022.
Google usually stays under $3 billion, so a deal of this scope would be very much out of character for the company.
Another issue the company could face in trying to buy HubSpot is a hostile regulatory environment for large deals.
Whenever you go to a conference, whether as a sales and marketing exercise, or an executive is speaking, there is a cost associated with that.
For executives, it is time away from the office, the cost of a ticket for attending and travel costs.
How do companies justify the cost of attending those events?
The target market is midsize business to enterprises, who are looking for a way to manage this process.
She eventually found Ivy Ventures, a firm that invested a modest $500,000 to get Sproxxy off the ground, and later added another $600,000.
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