Transplace Buy Shows Uber 'Leaning Into Freight': Cowen
Uber’s announcement it’s buying Transplace for $2.25 billion shows the ride-hailing company is “leaning into Freight” after divesting noncore businesses, Cowen analyst John Blackledge wrote investors Friday. On Thursday, Uber said the purchase from TPG Capital will create “one of…
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the leading logistics technology platforms, with one of the largest and most comprehensive managed transportation and logistics networks.” Uber Freight head Lior Ron said this brings together an “industry-first shipper-to-carrier platform that will transform shippers’ entire supply chains.” Transplace has access to over 30,000 carriers, and is expected to manage about $15 billion worth of freight this year, said Blackledge. Uber Freight would serve more customers at all levels of the freight industry and expand its presence into Mexico, said the company.