reveals that Google parent company Alphabet will be a big beneficiary of the ride-hailing firm.
Alphabet is one Uber’s top shareholders, with a 5.2% stake that could be worth upwards of $5 billion if Uber hits itsUber's S-1 filing reveals other financial ties as well: It paid Alphabet hundreds of millions of dollars in advertising, infrastructure and mapping services over the last several years., Uber still relies significantly on 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,” the company writes.Over two years, Uber paid Alphabet $631 million for marketing and advertising, $70 million for infrastructure and enterprise services and $1 million for “related services.”
More than half a billion in advertising isn't nothing for Uber, which lost $1.8 billion in 2018, but it’s a drop in the bucket for Google’s overall ad machine, which madeThe company spent $3.1 million since January 2017 for the ride-hailing service to promote Google Pay, its mobile wallet, within its app.Alphabet’s early-stage venture arm GV invested about $250 million Uber in 2013, and Google executive David Drummond even joined the board.
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