Logistics: Can Uber Freight Ever Turn A Profit? (UBER)

If the non-passenger businesses aren't screaming-hot right now it is hard to see when they ever will be.
From The LoadStar, June 2:

Taxis or tech? The dilemma for its parent as Uber Freight keeps burning cash

Uber Freight is forging partnerships with software providers in an effort to broaden its appeal, but will it be enough to avoid the chop from its parent company?

Uber is in the process of a strategic review of its business, recently laying off 3,000 employees and closing 45 offices, following an earlier purge that saw over 3,700 staff go.
In an e-mail to employees, Uber CEO Dara Khosrowshahi said management was “making really, really hard choices right now”.

A major part of this is a re-evaluation of non-core business segments where the company has been losing money – such as Uber Freight,  which continues to bleed cash.

For the first quarter it lost $64m in ebitda, while revenue fell to $199m. But this marked an improvement over the final quarter of 2019, when Uber Freight produced a $81m loss.

And some observers doubt if it will ever get back into the black. Cathy Morrow Roberson, founder and head analyst of Logistics Trends & Insights, noted that there were lots of digital brokerages in the US market, and none stands out or makes money, including Uber Freight....

....MUCH MORE
 

If interested here's the Uber file at Edgar. 

I still think they should have followed through with this idea since nothing else seems to be working:

 

After Car Attacked By Paris Taxi Drivers, Uber to Toughen Image With Umlauts 

San Francisco, CA (PRwëb) January 13, 2014-

In a move designed to make Uber seem more "bad-assed and scary in a quasi-heavy-metal manner," the Goldman Sachs, Menlo Ventures and Bezos Expeditions-backed company officially changed it's name to Über on  Monday.

"Much like Mötley Crüe and Motörhead, Über is not to be messed with," said founder Gärrëtt Cämp, né Camp...

Röck döts rüle

Long time readers will recognize the bald-faced ripoff of America's Finest News Service, ca 1997....