If you’ve ever seen a white Jaguar SUV with a spinning "hat" on top gliding silently through the streets of San Francisco or Phoenix, you've seen a Waymo. It’s a bit eerie the first time you realize there is absolutely nobody in the driver’s seat. Naturally, the first thing most people wonder—besides whether it’s going to hit them—is who actually owns the thing.
The short answer? Alphabet Inc.
But "Alphabet" is a massive corporate umbrella, and the reality of who owns Waymo taxi is a bit more layered than just saying "Google." It’s a mix of big tech dominance, savvy venture capital, and a slow-motion spin-off that has been nearly twenty years in the making.
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The Alphabet Connection: Is it Just Google?
Technically, Waymo is a subsidiary of Alphabet Inc. For a long time, people just called it the "Google Self-Driving Car Project." Back in 2009, it was a secret moonshot inside the Google X lab, spearheaded by Sebastian Thrun.
Everything changed in 2016. Google restructured itself into Alphabet, and Waymo was "graduated" into its own independent company under that Alphabet umbrella. Think of it like a child moving out of the parents' house but still having the parents pay for the down payment and most of the groceries.
Alphabet still holds the lion's share of ownership. However, they aren't the only ones at the table anymore.
The Outside Investors Moving In
For the first decade, Google/Alphabet footed every single bill. That’s billions of dollars in R&D, LIDAR sensors, and server costs. But recently, they started inviting others to the party.
As of early 2026, Waymo has taken on several massive rounds of outside funding. We’re talking about "Series" rounds that involve some of the heaviest hitters in global finance.
- Silver Lake Partners: These guys are huge in tech private equity.
- Fidelity Management & Research: A staple in many 401ks, now betting on robotaxis.
- Andreessen Horowitz (a16z): The Silicon Valley venture kings.
- Tiger Global Management: Known for aggressive, high-growth bets.
- T. Rowe Price: Another institutional giant looking for a slice of the future.
Why would Alphabet share? Honestly, it’s about risk. Developing cars that don’t crash is incredibly expensive. By bringing in outside investors, Alphabet spreads the financial risk. It also helps set a "market value" for Waymo.
Right now, rumors and recent funding talks suggest Waymo is being valued at over $100 billion. To put that in perspective, that’s more than the market cap of Ford or General Motors. It's a staggering amount of money for a company that only operates in a handful of cities.
Who Runs the Show Day-to-Day?
While Alphabet owns the majority of the equity, they don't necessarily micromanage the steering (pun intended). After long-time CEO John Krafcik stepped down in 2021, the company moved to a co-CEO model.
Tekedra Mawakana and Dmitri Dolgov are the ones actually in charge. Mawakana brings the policy and business expertise—crucial for dealing with skeptical city councils—while Dolgov is the technical mastermind who has been with the project since the very beginning in 2009.
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This duo reports to Alphabet’s leadership, specifically Ruth Porat, who recently shifted roles to oversee "Other Bets" like Waymo.
The Partnership Web: Do They Own the Cars?
This is a common point of confusion. Waymo doesn't actually manufacture the physical cars. They own the "Driver"—the brain, the sensors, and the software.
- Jaguar Land Rover: They provide the all-electric I-PACE SUVs you see most often.
- Zeekr: A newer partnership with this Geely-owned brand is bringing a purpose-built robotaxi to the fleet (the "Ojai" model).
- Stellantis: They previously used Chrysler Pacifica minivans, though those are being phased out in favor of all-electric options.
So, while Waymo owns the fleet of taxis you ride in, they are essentially buying the "shells" from traditional car companies and "Waymo-ing" them with their tech.
The 2026 Landscape: Competition and Value
The ownership structure matters because of the competition. Tesla is constantly breathing down their neck with "Full Self-Driving," though Waymo fans will tell you there’s a massive difference between a car that helps you drive and a car that has no steering wheel.
Alphabet’s strategy is clear: keep the majority control but build a war chest of outside cash to expand into London, Tokyo, and beyond. They’ve already surpassed 450,000 paid rides per week as of late 2025. That’s not a hobby anymore; it’s a business.
Some analysts believe Waymo might eventually go public via an IPO. If that happens, "who owns Waymo" could eventually be "you," if you buy the stock. But for now, it remains a crown jewel in the Alphabet portfolio, partially shared with a elite club of venture capitalists.
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How to Track Waymo’s Value
If you're looking to follow the money or understand where this ownership is headed, keep an eye on these specific indicators:
- Alphabet’s Earnings Reports: Look for the "Other Bets" section. This is where Waymo’s losses (and growing revenues) are hidden.
- New Funding Rounds: Any time a new $5 billion or $10 billion round is announced, it usually reveals a new valuation.
- Expansion Permits: Ownership and valuation are tied to where they can operate. Keep an eye on the California Public Utilities Commission (CPUC) for expansion news in San Francisco and LA.
The "Google car" has grown up. It's now a multi-billion dollar corporate entity that is arguably the most advanced autonomous driving company on the planet.
Next Steps for You
To see how this ownership affects the actual service, you can download the Waymo One app to check if you're in a service zone. If you're an investor, look into Alphabet Inc. (GOOGL), as it remains the primary way for the general public to have an ownership stake in Waymo technology.