Google is steering Uber and Lyft from the back seat. GinaChon
Entities affiliated with Alphabet, the parent company of Google, hold a 5.2 percent stake in Uber Technologies or nearly 71.1 million shares, according to the ride-hailing app’s draft initial public offering prospectus filed on April 11.
Alphabet subsidiary Waymo, which works on self-driving technology, has another 5.1 million convertible preference shares as the result of a lawsuit settlement in 2018. Ongoing disputes over Waymo’s intellectual property could result in licensing fees or required design changes for Uber, the company said in the filing.
Uber also paid $58 million from 2016 to 2018 for services related to Google Maps, in addition to $702 million in that same period for advertising and other services. Separately, Alphabet-related entities own 5.3 percent stake of Lyft, the rival car-hailing app that listed its shares on March 29. Lyft also relies on Google Maps and paid the search firm $208 million from 2016 to 2018 for ad and other services.
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