Uber Paid Google USD245 Millions As The Waymo Lawsuit Settlement

Dara Khosrowshashi

A photo of Dara Khosrowshashi by Furtune

Dara Khosrowshashi, Uber's new CEO from last August 2017 seems driving the company right direction from the bumpy rides all along. Everybody knows what happened behind Uber's acquisition of Otto, which was a startup by a couple of former employees of google acquired project named Waymo. 

There was a propitiatory issue which carried out by the Alphabet Inc which is known as google for the project under Waymo to Uber's otto. With the lead of Dara, Uber has a settlement to a settlement of USD245 million worth of equity settlement from Uber which has been valued at USD72 billion. Dara stated that his job as the CEO of Uber, is to lead the company which has a good future by innovating and growing responsibly.

Uber Autonomous Driving on Volovo XC 90

Uber owned Otto's installation of Autonomous Driving unit on Volvo XC 90

For last couple of months Uber had incidents where it made more publicity than usual. Couple of incidents in US, major incident with the previous CEO, a communication had with the Uber driver and locally there were many more. Upon all that Uber's new CEO does have a new goal to achieve. Which is to bring the company to public in 2019 and initiate the Initial Public Offering of the company.

Further Dara stated that "I cannot erase the past, I can commit, on behalf of every Uber employee, that we will learn from it, and it will inform our actions going forward. I have told Alphabet that the incredible people at Uber ATG are focused on ensuring that our development represents the very best of Uber's innovation and experience in self driving technology"

That sounded promising and it's a good move towards the organization. In the end of the day Alphabet Inc, known as google will have a USD245 worth of Uber shares in their books. Which wasn't expected when offering USD500 million which got rejected by the Uber's director board. 

Source - Uber