Sam Altman-backed Glydways seeks $250 mn to cross $1-bn valuation

Sam Altman-backed autonomous vehicle startup Glydways seeks to raise $250 million to reach a valuation of over $1 billion. It plans to make podlike vehicles that provide on-demand rides, running on dedicated two-meter-wide expressways to offer taxi-like service, avoiding congestion. The firm recently closed a $170-million funding round from investors like Suzuki Motor Corp and Khosla Ventures.