Uber and Waymo settled self-driving lawsuit : an awkward Week in Court

#Uber agreed to pay #Alphabet 0.34 percent approx With a $245 million equity payout of a late stock offering that values Uber at a new high: $72 billion.

#Uber agreed to pay #Waymo a 0.34 equity stake at #Uber’s $72 billion valuation—the payout should be around $245 million, according to the Verge. Uber has also promised not to use any of Waymo’s confidential information. Uber has reached a settlement agreement with Alphabet over its lawsuit against the ride-hailing company claiming theft of trade secrets.

As part of the deal, #Uber accepted to pay Alphabet the equivalent of $245 million in equity. The agreement specifically requires #Uber to give Alphabet 0.34 percent of #Uber’s latest funding series. Sources involved in the negotiations say it’s based on a $72 billion valuation. That would peg SoftBank’s recent investment — which included $1.25 billion for new# Uber shares — at a higher value than previously reported.

Alphabet in the last month has now both gained and lost #Uber shares. Last month, Alphabet sold about $350 million worth in shares in the company as part of the tender offer alongside #SoftBank’s investment. Now it is earning two-thirds of that back.

The settlement was announced on the morning #Waymo attorneys expected to call #Levandowski, who pleaded the Fifth, to the stand.
#Uber had a rough 2017, with a series of scandals that led to the resignation of CEO Travis Kalanick. After #Khosrowshahi’s hiring, the company spent the last few months of the year trying to fix its image.
Source : recode, slate