Uber’s Trucking Division to Acquire Shipping Software Company Transplace

Uber Freight, Uber’s separate freight division, has announced Thursday that it will be acquiring Transplace, a shipping software company that would put the transportation logistics company at a valuation of over $2.25 billion.

Transplace produces software that helps manage shipping and logistics for a company’s supply chain. The latest acquisition, which consists of $750 million worth of Uber’s common stock in addition to cash, is a rare move for Uber and its freight division, given that the ride-hailing company has dropped is profit-eroding self-driving segment and flying taxi unit in just the past year.

The latest deal is expected to accelerate the trucking division’s goal to reach profitability. Although Uber Freight is only responsible for a small fragment of Uber’s entire revenue, the division reported revenues of $301 million in the first quarter of 2021, up 51% compared to the same quarter a year earlier.

Information for this briefing was found via Uber. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

When 4% of Global Copper Disappears Overnight | David Gower – Emerita Resources

Mining M&A: Gold X2 Acquires Kesselrun Resources

They Said Oil Was Dead. They Were Wrong. | Michael Judson – Record Resources

Recommended

Military Seizes Power in Madagascar After President Flees

Altamira Gold Hits 395.5 Metres Of 0.4 g/t Gold At Maria Bonita

Related News

Route Share: Uber’s Latest Innovation Is A Bus-Like Service

Uber (NYSE: UBER) launched Route Share on Wednesday, a fixed-route shuttle service that critics say...

Friday, May 16, 2025, 12:15:00 PM

Elon Musk Comments That “No Contract Has Been Signed Yet” With Hertz

At this point it’s become widely known that Tesla (NASDAQ: TSLA) last week crested the...

Tuesday, November 2, 2021, 09:40:02 AM

Uber Announces it will be Further Reducing its Workforce by 3,000 Employees

It appears that the coronavirus pandemic has been hitting the travel industry exceptionally hard. Earlier...

Wednesday, May 20, 2020, 01:39:00 PM

New Jersey Issues Lyft With $16 Million Tax Bill, Adding Further Pressure on Gig Economy Worker Classification Rift

Following the successful passing of Proposition 22 in California, which will see the continuation of...

Sunday, November 8, 2020, 01:45:00 PM

Uber Adjusts (For Investors)

Last week, this space covered a first quarter earnings report from Uber Inc. (NYSE: UBER)...

Wednesday, May 18, 2022, 01:30:00 PM