Uber Pays $245 Million to Settle Waymo Trade Secrets Lawsuit
Uber resolves its high-profile legal battle with Google's Waymo by handing over a sizable equity stake worth $245 million. The agreement allows Uber to continue developing its self-driving technology without the burden of a lengthy trial.
Uber and Google's self-driving subsidiary Waymo resolve a major trade secrets dispute with a $245 million settlement. A federal judge announces the agreement in a San Francisco courtroom, ending a trial that features testimony from former Uber CEO Travis Kalanick. As part of the deal, Uber gives Waymo a 0.34 percent equity stake in the ride-hailing company.
The legal conflict stems from Waymo's accusation that Uber steals proprietary self-driving technology. Waymo claims that former top engineer Anthony Levandowski downloads over 14,000 confidential files before leaving Google to start a startup that Uber quickly acquires. The resulting lawsuit focuses heavily on disputes over Lidar, a crucial sensor technology used in autonomous vehicles.
This resolution removes a significant legal hurdle as Uber prepares for a public stock offering. Although Uber agrees to ensure its Lidar and software reflects only its own original work, the company confirms it remains committed to the self-driving car business. Current CEO Dara Khosrowshahi states that the company takes steps to move forward responsibly and learn from past mistakes.