81749
The settlement gives Alphabet 0.34% of Uber’s equity, worth around $244 million.
The settlement gives Alphabet 0.34% of Uber’s equity, worth around $244 million.

Waymo, Uber Reach Settlement

Waymo, Uber Reach Settlement

Uber Technologies has agreed to settle a lawsuit with Alphabet’s Waymo over allegations that Uber stole and used intellectual property for self-driving vehicles.
The conclusion of a long-running lawsuit between Uber and Waymo autonomous car unit is being described by industry watchers as, if not exactly a victory for Uber, then at least something close to the best possible outcome. More specifically, it looks like another step forward for CEO Dara Khosrowshahi as he attempts to salvage Uber’s battered image and chart a path forward, the Fortune reported.
The settlement gives Alphabet 0.34% of Uber’s equity, worth around $244.8 million. Uber also agreed to not incorporate any Waymo technology into its future products. That is a sizable financial hit, but Khosrowshahi said he does not believe Waymo technology had been in use at Uber, so the agreement may not further hamper Uber’s self-driving efforts.
In other ways, the settlement is great for Uber. As Johana Bhuiyan points out at Recode, the discovery process of the suit had already aired damaging dirty laundry about Uber’s behavior under Khosrowshahi’s predecessor as CEO, Uber founder Travis Kalanick. The settlement stopped any further revelations on that front, and did not require Uber to make a specific admission of guilt about the theft of trade secrets. And a loss at trial could have led to much tighter restrictions on Uber’s research process.
Because it involves equity rather than cash, the settlement also, ironically, leaves Alphabet in a position to benefit from Uber’s long-term success. 
TechCrunch’s Jonathan Shieber argues that the settlement actually opens the door to potential collaboration down the road, and leaves Khrosrowshahi looking both reasonable and savvy.
That is particularly important as Uber continues forging a path towards an IPO, possibly as soon as early 2019. By appearing, in Shieber’s words, “nothing short of magnanimous,” Khosrowshahi is further drawing a line between himself and Kalanick, who was ousted last June following a string of tactical, legal, and PR disasters.
Many of those setbacks were triggered by Kalanick’s juvenile impulsiveness, which arguably helped the company grow in its early years. But as it seeks sustainability – and maybe even some profit – Khosrowshahi’s steadier hand, willingness to compromise and recognition of past mistakes is shaping up as a better approach.

Short URL : https://goo.gl/DJEBij
  1. https://goo.gl/hi8FYs
  • https://goo.gl/EfVMXA
  • https://goo.gl/JWR1gy
  • https://goo.gl/p8C2X1
  • https://goo.gl/KPT8d9

You can also read ...

Iran Economic News Headlines for Today - October 15
1. Mohammad Baqer Nobakht, the head of Plan and Budget...
Iran Plans Barter Trade With Africa - Interview
As a bid to ease trade with African countries, the Iran...
Ban on Iran Imports From Farah Checkpoint to Be Lifted
Afghanistan Customs Department has agreed to lift the ban on...
Iran Mineral Trade Surplus Rises to $3.5 Billion
Iran's trade surplus of mineral products increased notably to...
Iran, India Aim to Accelerate Chabahar Project Before US Curbs
India and Iran have renewed efforts to operationalize one...
Iran Bushehr Port Exports to Qatar Hit $56 Million (Mar-Sep 2018)
About $56 million worth of non-oil goods were exported from...
Cars to Cost More in Iran
Automakers will soon receive the okay from relevant...
SMEs Account for 10% of Iran's Exports
Small- and medium-sized enterprises account for just over 10%...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus