Walmart has announced that it has taken an undisclosed stake in GM controlled Cruise LLC. The new investment brings the total funding to $2.75 billion, following sizeable investments from Microsoft, and the recent purchase of Voyage. Cruise states it’s post-investment valuation at more than $30 billion.
The Walmart investments are in addition to ongoing projects with Alphabet’s (Google) Waymo and Niro Inc. as it’s continues it’s effort to compete head-to-head with Amazon by creating and maintaining several logistics options. It’s internal project, named Spark, is in addition to partnerships with Uber, Lyft and DoorDash for last-mile logistics (from warehouses to homes).
Compete with Amazon remains problematic for Walmart due mostly to the shipping considerations, a key strength of Amazon. The several ongoing projects Walmart are meant to find the cheapest and most effective solution as quickly as possible.