Google has suspended business activity involving the transfer of hardware, software and key technical services with Huawei. Analysts say that could be a big blow to the...Technologyread more
Global dividends reached a first-quarter record of $263.3 billion, rising 7.8% despite concerns about the world economy, according to new reach Monday.Marketsread more
Trump's threat, posted on Twitter, comes amid rising international tensions in the Middle East as the U.S. has dispatched a carrier strike group and bomber task force to the...Politicsread more
Huawei Technologies will immediately lose access to updates to the Android operating system, a source close the matter told Reuters.Technologyread more
Huawei claims it has developed its own operating system for smartphones and laptops for "extenuating circumstances."Technologyread more
Current geopolitical tensions are making it harder and harder for oil-producing nations to make decisions that will help stabilize crude prices, Russian Energy Minister...Oilread more
Oil prices jumped on Monday after Saudi Energy Minister Khalid al-Falih indicated there was a consensus among OPEC and allied oil producers to continue limiting supply.Energyread more
Yardeni Research's Edward Yardeni recommends investing in U.S. companies with exposure to China.Trading Nationread more
Bank, property and healthcare stocks jumped, pushing Australian markets to a 11-year high, as Scott Morrison and the Liberal-led conservation government are poised for a...World Marketsread more
Goldman Sachs is in talks to buy B&B Hotels from private equity firm PAI Partners, the companies said on Monday, in a deal which an earlier report from the Financial Times...Investingread more
Trade tensions between the U.S. and China stalled a global recovery and are continuing to endanger investment and growth, the secretary general of the OECD warned Monday.World Economyread more
"We rely upon certain third parties to provide software for our products and offerings, including Google Maps for the mapping function that is critical to the functionality of our platform," Uber said in the filing.
Google Maps technology appears when a person enters a destination in the Uber app; the technology shows the current place, the destination and a route, along with estimates of arrival times.
Uber said that it entered into an agreement with Google around map services in October 2015.
"From January 1, 2016 through December 31, 2018, we have paid Google an aggregate of approximately $58 million pursuant to this agreement," Uber said.
Shortly after the agreement was signed, Uber hired Manik Gupta, then the director of product management for Google Maps; Gupta is now Uber's chief product officer.
In 2015 Uber acquired mapping start-up deCarta for an undisclosed sum. The start-up's CEO, J. Kim Fennell, today is Uber's head of product partnerships and U.S. and Canada business development; he is the person who signed two contracts with Google for mapping technology on behalf of Uber.
It looks like the deal will continue for some period of time, as Uber does not see a viable alternative. It wrote:
"We do not believe that an alternative mapping solution exists that can provide the global functionality that we require to offer our platform in all of the markets in which we operate. We do not control all mapping functions employed by our platform or Drivers using our platform, and it is possible that such mapping functions may not be reliable."
Uber also said between the beginning of 2016 and the end of 2018 it paid Alphabet's affiliates around $631 million for marketing and advertising services.
Additionally, Uber uses Google's public cloud in addition to Amazon Web Services, an Uber spokesperson said.
The two companies have a tangled history.
In 2013, Google invested more than $250 million in Uber through its early-stage venture arm, GV, formerly known as Google Ventures. Alphabet still owns more than 5% of Uber's outstanding shares through that investment, according to the S-1.
Google executive David Drummond took a seat on Uber's board at the time. But the two companies gradually started to compete in various areas, including self-driving technology, and Drummond left the board in 2016. Then Alphabet sued Uber in 2017, claiming that Uber had stolen trade secrets when it acquired a self-driving technology start-up built by another former Google exec, Anthony Levandowski. The case was settled last February, and Uber agreed to pay Waymo a 0.34 percent equity stake, which at the time amounted to about $245 million.
Alphabet took a stake in Uber arch-rival Lyft as the lawsuit with Uber was still going on, and owned more than 5% of that company when it went public lat month.