Tag Archives: procurement

Uber Freight Gets $500M Funding, Its Trucking Logistics Business Is Now Valued At $3.3B

Uber Freight Gets $500M Funding, Its Trucking Logistics Business Is Now Valued At $3.3B

Uber Freight, Uber’s trucking logistics arm, today reported a $500 million Investment. This investment is led by Greenbriar and now values Uber Frieght at an estimated $3.3 billion.

Uber Freight helps match carriers with shipper loads, using technology to speed up and automate a conventional manual process involving email and phone calls. After its launch in 2017, it has had nearly 65,000 carriers on its network and works with shippers including AB Inbev, Nestle, LG, Niagara Bottling, Heineken, Land O’Lakes and more.

“Uber Freight has developed an creative and successful approach to logistics technology that we believe will be highly scalable in the coming years,” said Michael Weiss, Greenbriar’s managing partner.

“In particular, we believe that carriers and shippers will increasingly be drawn to the comfort and simplicity that Uber Freight provides in a dynamic marketplace.”

Uber Freight has emerged as a rival to Seattle start-up company called Convoy, which also runs a digital platform for shippers and carriers. Convoy was started by former executives from Amazon.

Convoy raised $400 million in valuations of $2.7 billion in November and recently hired former Expedia Group CEO Mark Okerstrom as its new president.

Uber Freight reported an adjusted net revenue of $211 million for its most recent quarter.

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XPO Logistics To Add 15,000 Employees For The Holiday Season

XPO Logistics To Add 15,000 Employees For The Holiday Season

XPO Logistics, which offers services such as freight brokerage, less-than-truckload, and last-mile distribution of heavy goods such as appliances and furniture, said it plans to hire 15,000 workers for the festive season. This increases its workforce by around 15%.

Industry leaders such as FedEx and UPS, the two largest shipping companies in USA, have started telling clients that they are running out of room for the upcoming festive season. Industry demand is expected to surpass capacity by over 7 million packages a day. According to the research firm ShipMatrix, shipping demand is estimated to be about 86.3 million parcels per day in the peak season, between Thanksgiving and Christmas, compared to a capacity of 79.1 million a year earlier.

XPO Logistics is the largest company in North America for the last mile distribution of heavy goods such as furniture and appliances, giving it exposure to a sector that has steadily grown during the crisis.

Roche announces $500M for new manufacturing logistics hub and promises 500 jobs

Roche announces $500M for new manufacturing logistics hub and promises 500 jobs

Roche is investing $500 million into its Canadian headquarters in Mississauga, Ontario to set up a new hub to manage the logistics of its global supply chain.

Amazon announces $100 Million in logistics investments in Mexico

Amazon announces $100 Million in logistics investments in Mexico

In a recent press release, Amazon revealed that it has invested $100 million to open new warehouses in Mexico, including the first shipping centers outside the populated capital city, to provide quicker delivery.

FedEx partners with Reliable Robotics to develop unmanned cargo planes

FedEx partners with Reliable Robotics to develop unmanned cargo planes

During the Annual Stockholder Meeting, FedEx’s CEO Mr.Fred Smith announced that it is partnering with a company called Reliable Robotics to test the use of unmanned single-engine aircraft for cargo delivery. If approved by the Federal Aviation Administration (FAA), this is supposed to be a game changer in the logistics industry.

This collaboration deals with smaller turboprop aircraft and, in this case, the single-engine C208, which FedEx is planning to use as part of their network in very remote and uninhabited areas.

Here is a short video on this upcoming collaboration.