G👀gle & 🔲Uber Settle for 💲245 M Stake
Waymo, the self-driving car unit of Google parent Alphabet, stunned a packed courtroom this morning by announcing that it and Uber have settled their legal dispute.
As part of the agreement, Waymo will receive around $244.8 million worth of stock in Uber (i.e., 0.34% stake at a $72 billion valuation) and a pledge not to incorporate Waymo's trade secrets into its own technology. Waymo remains in private arbitration with Levandowski over his alleged poaching of employees.
There had been early expectations of a settlement prior to trial, but that had largely dissipated as lawyers and jury members entered the San Francisco courtroom for their fifth day — a day in which the man at the center of the dispute, former Google and Uber self-driving engineer, Anthony Levandowski, might have taken the stand.
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