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Uber’s Re-Evaluation of Freight Follows Steep Losses

Article written by Jennifer Smith The digital freight brokerage unit has won business at a high cost while pushing competitors to invest in technology Uber Technologies Inc.’s truck-brokerage business has helped reshape freight brokerage, but it might not be doing enough to shore up the finances at its parent company. The ride-hailing giant, reeling from the impact […]

Coronavirus Upends Trucking Networks, With Heavy One-Way Flows

Article written by Jennifer Smith Drivers worry about lack of hand sanitizer while some shippers and customers refuse to let them in Dr. Elissa Palmer tests a patient in a truck for the coronavirus at a testing site this week in Las Vegas. PHOTO: JOHN LOCHER/ASSOCIATED PRESS The coronavirus pandemic is whipsawing the trucking industry, as […]

Freight-Matching Startup Loadsmart Adds $19 Million from Maersk, Ports America – WSJ – By Jennifer Smith

Container shipping giant A.P. Moeller-Maersk A/S and Ports America, the largest terminal operator in the U.S., are investing in a digital freight-booking service aimed at speeding the flow of cargo through maritime gateways. Maersk’s venture-capital arm led a $19 million funding round for Loadsmart Inc. to support a new service for the port trucking market, […]

Uber Turns Over Nearly All Freight Revenue to Truckers, Analyst Says – WSJ – By Jennifer Smith

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 […]

Digital Freight Brokers Turn Physical With Truck Equipment Pools – WSJ – By Jennifer Smith

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 […]

Amazon’s Freight Push Rattles Logistics Sector – WSJ – By Jennifer Smith

Amazon.com Inc. is pushing deeper into logistics as it tries to tamp down transportation costs ahead of a pricey push into one-day shipping, raising potential concerns for freight operators that may end up competing for business with the e-commerce giant that many count as a significant customer. The online retailer has opened an online freight […]

KeepTruckin Adds $149 Million in Funding to Build Up Freight Platform – WSJ – By Jennifer Smith

KeepTruckin Inc., whose technology helps carriers manage fleets and track driver behavior, said it has raised $149 million to build out an online freight-matching platform and other new products in an increasingly active market for digital freight services. The Series D funding round gave the six-year-old San Francisco-based startup a valuation of $1.2 billion, up […]

Private-Equity Firms Buy Trucking Freight Services Companies – WSJ – By Jennifer Smith

By Jennifer Smith Private-equity firms bought two big freight-services providers in separate deals announced Wednesday, the latest in a string of investments in businesses that help manage the flow of goods through supply chains. Iconiq Capital LLC acquired a majority stake in Internet Truckstop Group LLC, whose Truckstop.com online freight marketplace connects shippers with available […]

Roadie Gains $37 Million to Expand Crowdsource Delivery Business – WSJ – By Erica E. Phillips

By Erica E. Phillips Crowdsourced delivery company Roadie Inc. has raised $37 million in new funding that includes investment from Home Depot Inc., boosting dollars available for marketing efforts with big retailers and for building out its technology. The Atlanta-based startup has been providing same-day delivery services through its “on-the-way” model, which uses an app […]

SoftBank’s Vision Fund Leads $1 Billion Funding Round for Shipping Broker Flexport – WSJ – By Erica E. Phillips

ByErica E. Phillips SoftBank Group Corp.’s Vision Fund is diving into the global freight business, leading a new $1 billion round of funding in Flexport Inc., a six-year-old international shipping broker built by Silicon Valley technology developers. Based in San Francisco, Flexport arranges ocean- and airfreight shipments for retailers and manufacturers—a $2 trillion global business […]