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Waymo is a privately held subsidiary of Alphabet, Google’s parent company. Alphabet remains Waymo’s majority investor, while outside institutions own minority stakes acquired through private funding rounds.

• Parent and majority investor: Alphabet Inc.
• Company status: Private, with no standalone public stock
• Latest valuation: $126 billion post-money in February 2026
• Latest financing: $16 billion from Alphabet and outside investors
• Leadership: Co-CEOs Tekedra Mawakana and Dmitri Dolgov

Who Owns Waymo Today?

Alphabet owns and controls Waymo as its parent company and majority investor. However, Waymo is no longer wholly owned by Alphabet because private investors have purchased minority equity stakes in several financing rounds.

Waymo does not publish a complete cap table or disclose Alphabet’s precise ownership percentage. Claims that outside investors own a specific percentage should therefore be treated as estimates unless supported by private transaction documents.

In February 2026, Waymo raised $16 billion at a $126 billion post-money valuation. The company said Alphabet continued its “strong sustained support” as the majority investor.

The round was led by:

• Dragoneer Investment Group
• DST Global
• Sequoia Capital

Other participating investors included Andreessen Horowitz, Mubadala Capital, Bessemer Venture Partners, Silver Lake, Tiger Global, T. Rowe Price, BDT & MSD Partners, CapitalG, Fidelity, GV, Kleiner Perkins, Perry Creek Capital and Temasek.

These firms are shareholders, but none has been identified publicly as having control equal to Alphabet. Waymo’s board, shareholder agreements and Alphabet’s majority position ultimately shape corporate control.

Waymo Company Snapshot

• Legal name: Waymo LLC
• Parent company: Alphabet Inc.
• Origin: Google Self-Driving Car Project
• Waymo launch: 2016
• Headquarters: Mountain View, California
• Co-CEOs: Tekedra Mawakana and Dmitri Dolgov
• Core product: Waymo Driver autonomous driving system
• Ride-hailing service: Waymo One
• Latest disclosed valuation: $126 billion

Waymo develops autonomous vehicle technology and operates fully autonomous ride-hailing services. Alphabet reports Waymo within its “Other Bets” segment rather than breaking out Waymo’s revenue, profit or losses separately.

How Did Waymo’s Ownership Develop?

Waymo began inside Google in 2009 as a secretive research project led by figures associated with early autonomous driving, including Sebastian Thrun, Anthony Levandowski and Chris Urmson. Its engineers tested self-driving vehicles on public roads with safety drivers before moving toward fully driverless operation.

When Alphabet reorganized Google into a holding-company structure, the project became a separate Alphabet business. It was renamed Waymo in December 2016, a name derived from “a new way forward in mobility.”

John Krafcik, a former automotive executive, became Waymo’s first CEO. Under his leadership, the company moved beyond research, formed partnerships with Fiat Chrysler and other traditional car companies, and launched the Waymo One ride-hailing service. Krafcik stepped down in 2021, and Mawakana and Dolgov became co-CEOs.

Alphabet initially funded the company internally. Waymo later brought in outside capital, including a $2.25 billion round in 2020, additional funding in 2021 and a $5.6 billion round in 2024. The $16 billion financing in 2026 substantially expanded the outside investor group while preserving Alphabet’s majority position.

How Does Waymo Fit Within Alphabet?

Waymo is one of Alphabet’s “Other Bets,” a group of businesses outside Google’s core advertising, cloud and consumer services operations. Alphabet’s 2025 annual report described Waymo as a business scaling commercialization, expanding to more cities and entering international markets.

This structure gives Waymo access to Alphabet’s capital, artificial intelligence expertise and technical infrastructure. It also creates opportunities to work with other Alphabet companies. For example, Gemini has been added to the passenger experience in Waymo’s new Ojai vehicle, though Waymo says the assistant operates separately from the Waymo Driver and does not control vehicle movement.

Waymo’s operations include San Francisco, Los Angeles, Phoenix and other cities, with ride access offered through the Waymo app and, in selected markets, ride-hailing partners. Its ownership is therefore separate from operational relationships with automakers and platforms. A company that supplies vehicles or distributes rides does not automatically own Waymo equity.

What Is Changing at Waymo in 2026?

Waymo is shifting from a limited robotaxi company into a much larger autonomous mobility network. The February funding announcement said the company completed 15 million rides in 2025 and was providing more than 400,000 rides per week across six major U.S. metropolitan areas.

Recent expansion has continued quickly. In June 2026, Waymo opened its fully autonomous Nashville service to the public. In July, it said it was preparing driverless operations in Denver, Las Vegas, San Diego and Tampa while testing Hyundai IONIQ 5 vehicles with its sixth-generation autonomous system.

Waymo also introduced premium membership benefits, an updated in-car interface and Gemini-powered passenger features. These changes point to a broader commercial strategy built around service tiers, new vehicle platforms and more cities rather than autonomous driving research alone.

The company remains capital intensive. Alphabet reported a larger 2025 operating loss for Other Bets, driven partly by Waymo-related compensation expenses. That financial dependence helps explain why Alphabet’s continued majority ownership and outside funding both matter.

How Does Waymo’s Ownership Compare With Its Rivals?

Zoox is wholly owned by Amazon, giving it a single large corporate parent without Waymo’s disclosed group of outside financial investors.

Cruise is controlled by General Motors, which tightened its control after previously accepting outside investments from companies such as Honda and Microsoft.

Tesla’s robotaxi effort sits inside publicly traded Tesla rather than a separately funded private subsidiary.

Baidu’s Apollo Go operates within Baidu’s autonomous driving ecosystem, while several Chinese robotaxi companies have separate public or private ownership structures.

Waymo is unusual because it combines majority ownership by a technology conglomerate with substantial minority investment from venture capital, growth equity and sovereign investment firms.

Frequently Asked Questions

Is Waymo owned by Google or Alphabet?

Waymo is owned by Alphabet, which is also Google’s parent company. Google and Waymo are sister businesses within the Alphabet group, although Waymo originated as a Google project.

Can you buy Waymo stock?

Waymo has no public stock ticker, so ordinary investors cannot buy its shares directly on a stock exchange. Buying Alphabet shares provides indirect exposure, but Alphabet’s valuation includes Google and many other businesses, not Waymo alone.

Does Alphabet own 100% of Waymo?

No. Outside investors have acquired equity through private funding rounds. Alphabet remains the majority investor, but neither Waymo nor Alphabet has disclosed its exact current percentage.

Who are Waymo’s CEOs?

Tekedra Mawakana and Dmitri Dolgov serve as co-CEOs. Mawakana’s background centers on operations, policy and commercialization, while Dolgov has long led Waymo’s autonomous driving technology development.

Is Waymo planning an IPO?

Waymo has not announced a confirmed IPO date or formal public listing plan. Its large private financing gives it capital to expand without immediately entering the public market.

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