• ITVI.USA
    15,804.330
    22.060
    0.1%
  • OTRI.USA
    27.150
    0.320
    1.2%
  • OTVI.USA
    15,791.050
    32.880
    0.2%
  • TLT.USA
    2.580
    0.020
    0.8%
  • TSTOPVRPM.ATLPHL
    2.990
    0.140
    4.9%
  • TSTOPVRPM.CHIATL
    3.630
    0.320
    9.7%
  • TSTOPVRPM.DALLAX
    1.520
    0.120
    8.6%
  • TSTOPVRPM.LAXDAL
    2.880
    0.210
    7.9%
  • TSTOPVRPM.PHLCHI
    2.320
    0.200
    9.4%
  • TSTOPVRPM.LAXSEA
    3.260
    0.190
    6.2%
  • WAIT.USA
    125.000
    -1.000
    -0.8%
  • ITVI.USA
    15,804.330
    22.060
    0.1%
  • OTRI.USA
    27.150
    0.320
    1.2%
  • OTVI.USA
    15,791.050
    32.880
    0.2%
  • TLT.USA
    2.580
    0.020
    0.8%
  • TSTOPVRPM.ATLPHL
    2.990
    0.140
    4.9%
  • TSTOPVRPM.CHIATL
    3.630
    0.320
    9.7%
  • TSTOPVRPM.DALLAX
    1.520
    0.120
    8.6%
  • TSTOPVRPM.LAXDAL
    2.880
    0.210
    7.9%
  • TSTOPVRPM.PHLCHI
    2.320
    0.200
    9.4%
  • TSTOPVRPM.LAXSEA
    3.260
    0.190
    6.2%
  • WAIT.USA
    125.000
    -1.000
    -0.8%
FreightWaves TVMidday Market UpdateNews

Uber Freight poised for success — Midday Market Update

How much growth has the tech company seen this past year?

Uber Freight posted year-over-year revenue growth of a whopping 43%, citing its Freight Enterprise offering as a key reason for improved performance. CFO Nelson Chai said there was a 45% quarter over quarter increase in the number of active shippers using Uber Freight’s API and Enterprise offerings. That sparked discussion between Kevin Hill and Michael Vincent in this episode of the Midday Market Update.  

The latest COVID-19 relief measure may help protect multiemployer pension funds in danger of failing; the House Ways and Means Committee is championing a bill to allow pension plans extra time to improve contribution rates, limit benefit accruals and maintain funding. 

Some manufacturing companies have plans to relocate supply chains this year, according to a survey from BDO Manufacturing that said 24% of company CFOs said they plan to move, and the US was ranked the most stable place to source materials from. 

A massive ice storm moving through the South has caused havoc in the Dallas-Fort Worth metroplex, with a 100-plus vehicle pileup closing I-35W and causing at least five fatalities, according to the Fort Worth Police Department

Special purpose acquisition companies (SPACs) have made many headlines as startups seek partnerships to go public and FreightWaves reporter Alan Adler joins the show to explain if the SPAC bubble will keep growing or pop. “You can’t stop this train,” Adler says, with more than 100 companies already announcing SPAC partnerships compared to just over 200 total in 2020. 

Uber Freight Head of Operations Bill Driegert makes an appearance to discuss the company’s gains. He says the new Enterprise product has been a great improvement in visibility for Uber Freight’s clients. 

“It’s ultimately tech allowing our carriers to make better decisions,” says Driegert, who thinks combining Enterprise and Uber’s solution of bundling freight could put capacity favor securely in carriers’ hands. 

You can find more Midday Market Update recaps and recaps for all our live podcasts here.

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Kaylee Nix

Kaylee Nix is a meteorologist and reporter for FreightWaves. She joined the company in November of 2020 after spending two years as a broadcast meteorologist for a local television channel in Chattanooga, Tennessee. Kaylee graduated from the University of Oklahoma in 2018 and immediately made the Tennessee Valley her home. Kaylee creates written summaries of FreightWaves live podcasts and cultivates the social media for FreightWaves TV.

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