Just a quick update to some market data I cited in my last post discussing the Waze acquisition:
There is now a sixth company with a valuation that exceeds $1b - MobilEye.
It was reported in the New York Times that MobilEye raised $400 million at a $1.5 billion valuation before the investment.
I am awaiting details regarding the breakdown of buyout and capital into the company and the size of the business.
The name of the game in the automotive components industry is to be a standard part of the production line of a car. MobilEye built its business selling to the aftermarket, before garnering enough industry attention to sell its systems to be a part of the production, or prior to the delivery of a car to a new buyer. That took time, effort and patience. So good job to the management.
There are no venture capital funds invested in this company. The closest was Motorola's VC arm from the year 2000.
All $400m was a secondary. no capital in.