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 …
Powerloop, a new trailer leasing and rental company started by Uber, hopes to reduce driver detention time through its trailer-pool system. (Uber Freight) Uber Technologies Inc. has started a trailer leasing and rental business to support drop-freight opportunities for carriers and shippers using its Uber Freight load-matching network. With its new Powerloop subsidiary, Uber aims …
Uber announced Wednesday a new venture, Powerloop, designed to work partly in tandem with the company’s freight-matching system Uber Freight. The company is an affiliate of Uber Freight and is owned by Uber Technologies. Powerloop at its core is a trailer leasing program, in which trailers are rented to participating carriers at $25 per day. …
Convoy, backed by billionaire tech pioneers Jeff Bezos and Bill Gates, and Uber Freight, an offshoot of the globally disruptive ride-sharing giant, are trying to grab a slice of the fragmented US truck brokerage market, taking different routes to lure skeptical drivers and capacity-hungry shippers. The two technology startups are attempting to persuade US shippers …
Company remains committed to providing quality service to help small carriers thrive One of the early entries in the so-called and really misnamed “Uber for trucking” movement, Convoy found immediate backers with the likes of Jeff Bezos, Marc Benioff and Henry Kravis when it launched in 2015. Since then, hundreds of companies have tried to …
The push to automate freight brokering is gaining momentum with technology startup Convoy raising $62 million to accelerate its growth plans and Uber Freight adding features and expanding into new markets since its May launch. These digital freight brokers offer mobile applications that match carriers with loads, automate manual processes and provide upfront pricing and …
It’s a warm summer afternoon at the TA Seattle East truck stop in North Bend, Wash., and Jerry Brooks is waiting for business. The 60-year-old driver from South Carolina wants to head back east, but the offers he’s received so far don’t meet his standards for distance and pay. “Everybody you see here is looking …
