Uber Freight is sharing nearly all the revenue from its digital freight-matching platform with its carriers, according to a Morgan Stanley & Co. analysis that estimates it could be years before Uber Technologies Inc. ’s logistics division generates meaningful profits. Uber’s freight brokerage business launched in 2017 and uses technology to connect truckers with shippers […]
5 Questions with C.H. Robinson CEO Bob Biesterfeld Bob Biesterfeld, President and Chief Executive Officer of C.H. Robinson (pictured above), recently spoke with SMC³ about the state of the industry and how technology is helping logistics stakeholders achieve their business objectives. At the Connections 2019 supply chain conference, Biesterfeld will provide further insight into the
Uber Technologies Inc. (NYSE: UBER) reported first quarter 2019 results which were $0.01 share worse than analyst expectations at a loss of $2.26 per share. Revenue of $3.1 billion was $20 million better than forecasts. Total revenue increased 20 percent year-over-year to $3.1 billion. Gross bookings increased 34 percent year-over-year to $14.6 billion. Other Bets
Logistics Management (LM): How do you view the current state of the freight economy? Bobby Harris: When you look at the first quarter, based on data from publicly traded companies, it is no secret that the market was softer in the first quarter than a year ago. And we are seeing that same softness when
Chicago-based FourKites, a provider of real-time tracking and visibility solutions across transportation modes and digital platforms, said today it has introduced a new offering that it says is the first product that offers shippers with real-time visibility across their network and also for freight that they do not manage. Entitled FourKites Network Visibility, company officials
As freight brokerages look to leverage technologies, automate grunt work, and streamline operations, we hear references such as “Buying ‘digital freight matching’.” Unfortunately, this reference to ‘digital freight matching’ as a ‘product’ is too simplistic. Because every freight brokerage has a different mix of fulfillment opportunities, and each load opportunity has unique requirements, challenges, and
Enterprise software firm SAP and load-matching app developer Uber Freight have partnered to connect their shipper and carrier networks in an effort to improve supply chain efficiency. Through Uber Freight’s integration into the SAP Logistics Business Network, shippers will be able to access freight rates and capacity from Uber’s carrier base, the technology firms said
As the logistics industry continues to plow millions of dollars into digital freight matching (DFM) technology that pairs shippers and carriers, there is a clear difference of approach between third-party logistics providers (3PLs) that seek to minimize the “human element” and those that embrace the combination of automation technology and teams of skilled logistics professionals.
Some of the wealthiest tech pioneers are pouring money into trucking logistics, sold on the idea that the industry is ripe for a new manner of technological disruption. When Jeff Bezos, Bill Gates and eBay founder Pierre Omidyar throw their support behind startups, the Silicon Valley and Wall Street hype machines go into overdrive. App-based
Digital freight marketplaces that connect shippers and truckers online are turning toward more physical operations by offering the equipment that cargo carriers need to move loads. Freight-matching startups Convoy and Uber Technologies Inc. ’s Freight division recently launched fleets of trailers that shippers can preload with goods to speed up cargo transfers for drivers and