• ITVI.USA
    10,751.730
    -679.100
    -5.9%
  • OTLT.USA
    3.005
    -0.267
    -8.2%
  • OTRI.USA
    20.330
    0.360
    1.8%
  • OTVI.USA
    10,700.870
    -711.780
    -6.2%
  • TSTOPVRPM.ATLPHL
    2.960
    0.380
    14.7%
  • TSTOPVRPM.CHIATL
    3.710
    0.160
    4.5%
  • TSTOPVRPM.DALLAX
    1.290
    -0.010
    -0.8%
  • TSTOPVRPM.LAXDAL
    3.720
    0.010
    0.3%
  • TSTOPVRPM.PHLCHI
    2.240
    0.100
    4.7%
  • TSTOPVRPM.LAXSEA
    4.160
    0.060
    1.5%
  • WAIT.USA
    132.000
    -5.000
    -3.6%
  • ITVI.USA
    10,751.730
    -679.100
    -5.9%
  • OTLT.USA
    3.005
    -0.267
    -8.2%
  • OTRI.USA
    20.330
    0.360
    1.8%
  • OTVI.USA
    10,700.870
    -711.780
    -6.2%
  • TSTOPVRPM.ATLPHL
    2.960
    0.380
    14.7%
  • TSTOPVRPM.CHIATL
    3.710
    0.160
    4.5%
  • TSTOPVRPM.DALLAX
    1.290
    -0.010
    -0.8%
  • TSTOPVRPM.LAXDAL
    3.720
    0.010
    0.3%
  • TSTOPVRPM.PHLCHI
    2.240
    0.100
    4.7%
  • TSTOPVRPM.LAXSEA
    4.160
    0.060
    1.5%
  • WAIT.USA
    132.000
    -5.000
    -3.6%
News

Uber Freight introduces in-app load bidding for carriers

Uber Freight has announced that it will introduce in-app bidding within its digital freight marketplace, enabling carriers and drivers to book their next load with the touch of a button. This feature is expected to improve the balance between supply and demand, while also creating an environment where both shippers and carriers gain the best rates going forward.

Mike Place, product manager at Uber Freight, told FreightWaves that this feature is an extension of the promise that the company gives to its users – to provide upfront pricing on all its loads. Though carriers had positive things to say of the existing platform, they also expressed interest in seeing bidding options, as it would help them express the desired price under certain conditions. 

“With transparency central to everything we build at Uber Freight, our bidding mechanism aims to provide feedback to carriers upfront. Traditionally, carriers have to wait until their bid is accepted or someone else books the load to get any sort of feedback on their offer,” said Place. 

“Uber Freight, on the other hand, uses our pricing engine to evaluate bids and provide feedback to carriers quickly if they are not likely to win so they can either move on to another load or change their bid accordingly.”

Uber Freight conducted many hours of research in concert with its carriers, including previewing designs that ultimately made it into the product. The feature will now be available across select loads to carriers in the U.S.

Carriers can now submit bids and receive feedback on select loads, directly in the app. They get notifications on the status of their bid, and winning bidders will have their loads temporarily reserved to book at the winning price. 

“All loads available for bidding will still have a ‘Book Now’ price allowing carriers to book in seconds if that’s preferred. As a complement to our dynamic pricing engine, and by automating and streamlining the traditional bidding process, Uber Freight’s in-app bidding aims to improve functionality for the entire freight marketplace,” said Uber Freight in its statement.

For Uber Freight, the rates confirmed via bidding processes will help add to the accuracy of its algorithms. These algorithms run the company’s dynamic pricing engine, which analyzes market conditions in real-time to price loads quickly and transparently. With market conditions being increasingly volatile, Uber Freight can leverage trucker opinions to figure out the best rate for both sides of the marketplace. 

“Bidding will be available on certain loads, for example where there’s a high degree of market volatility or where the load is being tendered in a short time-frame,” said Place. “While we continue to see the value in upfront pricing, we also recognize the value in inviting carrier input via bidding.”

Vishnu Rajamanickam

Vishnu predominantly covers technology stories from within the logistics and transportation space. He connects with key stakeholders within the freight industry, profiles startups, and brings in perspective from thought leaders in the freight space.

6 Comments

  1. so 5 years ago. get your loads in Ascend TMS plz with everyone else we load and you might get some of our trucks. Our drivers aren’t even allowed to pick their next load (or we’d go under lol).

  2. One of the main reasons I never booked with Uber because of their set rates on loads …. loads still will be cheap and I probably never haul for them……drivers stop hauling cheap freight

  3. This is not worth a shit the only one that will make money is Uber and the shippers. New trucks are costing $165000.00 plus and Uber wants to drive rates down another ch Robbins

  4. I will never use them, because I won’t get any better rates than DAT board. What is Uber”$ motive – they want to squeeze us even more. My response – ignore them completely like I have done the same with Convoy and JBH$ sites. Damn it, everybody want their hands in the cookie jar without incurring any expenses from owing and maintaining equipment. Screw you!

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