Uber paid Google USD 58 million to use Maps service between 2016 and 2018

Anca Alexe 12/04/2019 | 11:39

Uber’s IPO filing shows Google as a key supplier of maps technology for the company, CNBC reports. The ride-sharing company said Google Maps services from January 2016 to December 2018 had cost around USD 58 million.

The deal is expected to continue for the foreseeable future, as Uber does not currently see any viable alternative to Google Maps. ““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,” the company wrote.

In the same period, Uber has also paid Alphabet affiliates a total of around USD 631 million for marketing and advertising. It also uses Google’s public cloud in addition to Amazon Web Services.

In 2013, Google invested over USD 250 million in Uber through its former Google Ventures. Alphabet still owns over 5 percent of Uber’s outstanding shares from that investment, but it also has a stake in Uber’s rival Lyft, which went public last month.

Uber will soon launch on the New York Stock Exchange and has been reported to seek a valuation of up to USD 120 billion. In 2018, the company had revenues of USD 11.2 billion, rising from USD 7.9 billion in 2017, but also an adjusted EBITDA loss of USD 1.8 billion.

BR Magazine | Latest Issue

Download PDF: Business Review Magazine November 2023 Issue

The November 2023 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Mastercard On a Mission to Build an Inclusive Digital Economy”. To
Anca Alexe | 27/11/2023 | 17:41
Advertisement Advertisement
Close ×

We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

Accept & continue