Uber pumps $500m into freight business

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Uber pumps $500m into freight business
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The ride-hailing firm said it would maintain majority ownership of Uber Freight, and use the funds to scale its logistics platform and increase product innovation.

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Unlike Uber's ride-hailing app or its food-delivery service, Uber Freight operates as a middle man in the fragmented long-haul trucking business, connecting truckers with shippers.

Michael Weiss and Jill Raker, managing partners of Greenbriar, will join Uber Freight's board, the companies said in a statement.

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