Sunday, September 7, 2025

Latest

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

MEG Energy: Cenovus Comes In With $7.9 BILLION Offer

Orla Mining Q2 Earnings: Musselwhite Changes Everything

Endeavour Silver Q2 Earnings: Growth Isn’t Always Pretty

Recommended

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

Related News

US Gig Economy Suffers Slump Following Comments Made by Labour Secretary

A number of major gig economy companies suffered significant losses on Thursday, after the US...

Friday, April 30, 2021, 10:55:00 AM

Uber to Shut Down Drizly Three Years After Acquisition

Uber (NYSE: UBER) is set to shut down its alcohol delivery app, Drizly, marking the...

Tuesday, January 16, 2024, 02:18:00 PM

Uber and Lyft Face Mounting Driver Shortages as Demand for Travel Picks Up

With the US economy roaring back to life, a number of industries are getting prepared...

Tuesday, July 6, 2021, 02:36:00 PM

Uber Partners With Hertz For Tesla Rental Program For Drivers

And the Tesla (NASDAQ: TSLA) pump goes on. The company is currently up 1.77% in...

Wednesday, October 27, 2021, 08:38:21 AM

UBER Earnings Illustrated – Q1, 2022 Edition

The last time this column covered Uber Technologies (NYSE: UBER) (August, 2021) we wrote about...

Saturday, May 7, 2022, 09:00:00 AM