From FreightWaves, Aug 22:
Uber
Freight has been getting a lot of attention over the past six weeks.
First, the announcement that Uber's Autonomous trucking unit was being
separated from the Uber Freight operations, then the return of Otto
founder Lior Ron and the establishment of Uber Freight as an independent
business unit, to the launch of their platform for shippers that
FreightWaves reported on yesterday.
Now reports out of Silicon Valley's insider newsletter,
The Information,
are showing the pure scale of Uber Freight in the market. According to a
post on the site, Uber Freight is running at a $40 million a month
gross revenue run-rate.
Our market sources have told us that Uber
Freight has doubled revenues in 2018 and could potentially double over
the next six months, making Uber Freight one of the largest freight
brokers in the market. The business is losing money as it scales up and
is expected to do so for the foreseeable future. Uber principals have
told FreightWaves Uber plans to double the investment in their freight
operations over next year. An investment of that magnitude could further
accelerate the momentum of the freight brokerage.....
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