Summary
Uber Technologies, Inc. (UBER) filed an 8-K on July 17, 2020, to disclose a material definitive agreement with Google LLC. This new agreement, effective July 13, 2020, governs Uber's access to Google Maps Platform Rides and Deliveries Services. The key change is a revised pricing model, shifting from per-request to per-billable-trip, which also includes tiered volume-based discounts. This agreement replaces a prior arrangement for Google Maps services and has a four-year term.
Key Highlights
- 1Uber entered into a new Google Maps Master Agreement with Google LLC, effective July 13, 2020.
- 2The agreement concerns Uber's access to Google Maps Platform Rides and Deliveries Services.
- 3A new pricing model is introduced, transitioning from 'per request' to 'per billable trip'.
- 4The new pricing model includes tiered volume-based discounts.
- 5This new agreement supersedes the previous agreement related to Google Maps services.
- 6The term of the new agreement is for four years from its effective date.
- 7Termination clauses include material breach, cessation of business operations, and insolvency proceedings.