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.
Frequently Asked Questions
This 8-K filing announces a material definitive agreement between Uber Technologies, Inc. and Google LLC, specifically regarding Uber's use of Google Maps Platform Rides and Deliveries Services.
The new pricing model shifts from being based on the number of requests made to Google Maps services, to being based on the number of billable trips taken. This also introduces tiered volume-based discounts.
The agreement has a term of four years from its effective date, which was July 13, 2020.
Either party can terminate the agreement for a material breach by the other party if it's not cured within a reasonable time after notice. Termination is also possible if a party ceases business operations or enters insolvency proceedings that aren't dismissed within 90 days.