The financial analysis of Uber Freight does not yet include the impact of Transplace, which the digital brokerage is acquiring.
Transplace’s new bookings are said to be a key reason for the improvement in its financial outlook.
“This is about lowering the barrier of entry for owner-operators. We are trying to push them forward and help them make key decisions that will ultimately lead them to success in scaling their business.”
The earnings report is for a 3-month period with no impact from the big Transplace acquisition announced in July.
The $2.25 billion deal is a “game-changer” and a “monster deal,” according to FreightWaves experts.
A united transportation platform with 2 companies focused on either side of the carrier/shipper divide is seen as driving $2.25B acquisition of Transplace.;
“We will learn how our customers use the product, learn their pain points and inject those solutions into the product as we go, really changing the user experience.”
“Acquisitions and strategic partnerships are part of this strategy — the additional funds give us the flexibility to capitalize on the right opportunities.”
“We were able to establish relationships with carriers that range from owner-operators to some of the largest fleets in North America. These networks will allow Canadian shippers to tender a load in seconds.”
“The first step to optimizing your capacity is to start with your network. … Step two is optimizing across multiple networks.”
In 2020, J.B. Hunt reported more than 1.2 million loads were processed through its platform, exceeding $1.4 billion in transactions.
“With Market Access, shippers gain risk transparency,” Uber Freight’s co-founder said. “In a market, not every shipper has the same needs. This tool puts the risk in the shippers’ hands so they can make decisions based on their companies’ specific needs.”
Innovators worldwide are finding new ways to simplify and disintermediate the execution layer of the supply chain.
In today’s edition of The Daily Dash, Werner expects the winter weather to impact Q1 earnings. Plus, J.B. Hunt and Google are teaming up for product development, and Walmart will invest billions of dollars in e-commerce.
In today’s edition of The Daily Dash, a pension bailout bill that would affect Yellow and ABF Freight drivers could be near in Congress. Plus, XPO posts a record quarter and Uber Freight’s growth continues.
Kevin Hill and Michael Vincent break down today’s top headlines and learn where Uber Freight is doing things right on this episode of Midday Market Update.
Investments in its Eats and Delivery platforms have Uber on a path toward profitability as its Rides business recovers post-pandemic.
The size of Uber Freight’s “fleet” is about 71,000 carriers.
Berlin-based digital freight brokerage Sennder closed a $160 million series, exceeding a $1 billion valuation.
Uber’s stock dips on a report that Goldman Sachs is looking to unload 38 million shares. The company has made several moves recently to shore up the balance sheet and sustain its cash-intensive brokerage segment.
