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Alphabet drops smart city plans for Toronto

Friday 8 May 2020 | 14:18 CET | News
Alphabet's Sidewalk Labs has let go of its plans to set up a smart city in part of Toronto, the Wall Street Journal reported. Sidewalk Labs said the plans were dropped because of economic uncertainty and pressure on the local real-estate market amid the coronavirus pandemic. Sources said cost was another major factor. Alphabet had invested heavily in Sidewalk Labs, a pet project of Google co-founder Larry Page, but CFO Ruth Porat wanted to halt the project even before the virus crisis, the sources continued.

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Categories: Internet / Mobile & Wireless
Companies: Alphabet
Countries: Canada
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