News Formal

Investors load US$500m into Uber's trucking business

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

[SAN FRANCISCO] Uber on Friday said an investment group led by Greenbriar Equity is pumping US$500 million into its trucking unit. Read more at The Business Times.

Uber said it will retain a majority stake in Freight, using the money to expand the logistics platform and speed up technology innovation.

"We believe that carriers and shippers will be increasingly attracted to the convenience and simplicity that Uber Freight offers in a complex marketplace." Uber reported a US$1.8 billion loss in the second quarter of this year as the Covid-19 pandemic caused its shared-ride business revenue to plunge.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 15. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Load up until all independent truckers are driven out of business.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US factory orders miss expectations; business spending improvingNew orders for U.S.-made goods increased less than expected in August, though business spending on equipment appeared to be recovering, which ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »