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Tag: Uber Freight

Uber Freight Completes Acquisition of Transplace
15Nov By AnkitaNo Comments
ACQUISITION

Uber Freight Completes Acquisition of Transplace

SAN FRANCISCO & FRISCO, Texas-- Uber Freight, a subsidiary of Uber Technologies, Inc. (NYSE: UBER), announced that it has completed the acquisition of Transplace from TPG Capital for approximately $2.25 billion in an all-cash transaction. As partial financing for this transaction, Abu Dhabi Growth Fund (ADG), D1 Capital, and GCM Grosvenor invested $550 million in Uber Freight. The transaction brings together Uber Freight’s vast network of digitally-enabled carriers with Transplace’s trusted shipper technology and operational solutions, ultimately creating one of the world’s leading logistics technology platforms to meet the rapidly evolving needs of shippers and carriers alike. “Logistics is going through a historic transformation. Unprecedented volatility, increasing supply chai...
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The Logistics arm of Uber, Uber Freight Raises $500 Million
3Oct By AnkitaNo Comments
FUNDING

The Logistics arm of Uber, Uber Freight Raises $500 Million

SAN FRANCISCO & RYE, N.Y., Oct. 3rd, 2020-- Uber Technologies Inc. (NYSE: UBER) and New York-based investment firm Greenbriar Equity Group and one of the leading investors in the logistics space invested $500 million in a Series A preferred stock financing for Uber Freight. After this funding round the logistics arm of Uber, valuing the unit at $3.3 billion. Uber will maintain majority ownership in Uber Freight and will use the funds to continue to scale its logistics platform and accelerate product innovation to equip shippers with technology to power their supply chains. In connection with the investment, Michael Weiss and Jill Raker, Managing Partners of Greenbriar, will join the Uber Freight Board of Directors. With a combination of more than 40 years of investing experi...
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