Uber and Alphabet’s Waymo settle lawsuit

Waymo sued Uber after it found that its ex-engineer, Anthony Levandowski, had downloaded 14,000 of Waymo’s private files before leaving the company to join the transportation company.

Uber would have had to pay US$1billion in damages if the jury was convinced that Waymo’s trade secrets were stolen.

Luckily for Uber, it reached an agreement with Alphabet on its lawsuit against the theft of trade secrets.

According to The Wall Street Journal, the transportation network company said it will give the Alphabet unit 0.34% of its equity.

Ubers-Net-Losses-Are-Increasing-2017-11-29

Alphabet has also backed Lyft, Uber’s US rival, with US$1billion in funding.

Written by Leah Alger

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