Tag Archive : Freight

/ Freight

Press release content from Accesswire. The AP news staff was not involved in its creation.

BELLEVUE, KY / ACCESSWIRE / October 13, 2020 / Michael Bilokonsky, CEO and president of Whitehorse Freight, is excited to announce the launch of his new website, https://michaelbilokonsky.com/. As an enthusiast of motorcycles, his website features an in-depth look into his interests as well as some interesting entrepreneurial tips in the form of articles and interviews.

“Motorcycles are my passion. Balancing my personal interests and my entrepreneurial mindset is something I really wanted to highlight on my website,” Says Biolkonsky.

The balance is definitely struck as the website sports information on how to stay safe while enjoying the ride in the article Staying safe on the road: tips for the new motorcycle owner and also describing his work experience and how he got to where he is today in Michael

Read More

Einride, the Swedish autonomous trucking startup, unveiled a new vehicle type that the company hopes to have on the road delivering freight starting in 2021. The vehicles, dubbed Autonomous Electric Transport (AET), came in four different variations. And much like Einride’s previous prototypes, they come without steering wheels, pedals, windshields, and, in general, no cab at all.

Einride has been in the business of releasing interesting, eye-catching prototype vehicles since it was founded in 2016. There was the cab-less T-Pod, released in 2017, four of which are operating on public roads hauling freight for Oatly, the Swedish food producer. A year later, the company unveiled the T-Log, built to be more powerful than its predecessor for the job of (you guessed it) hauling tons of giant tree logs. Now it has a next-generation vehicle that it hopes it can put into production.

Einride’s also been engaged with the less glamorous

Read More

Uber announced Friday that its freight business won a multi-million investment from an investor group led by New York-based Greenbriar Equity Group that would value the unit at $3.3 billion.

The investor group — which has over $4 billion in committed capital focused on investments — has committed to buying $500 million in preferred stock to fund Uber’s logistics arm.

GENERAL MOTORS, UBER LAUNCH PARTNERSHIP ON ALL-ELECTRIC VEHICLES

“Trucking is one of Uber’s biggest and most promising opportunities,” Uber CEO Dara Khosrowshahi tweeted. “Today’s $500M investment from Greenbriar is a testament to the @UberFreight team’s consistent innovation, and I’m excited for them to continue to lead the industry forward.”

The rideshare giant says it will still maintain majority ownership in Uber Freight and plans to use the funds to “scale its logistics platform and accelerate product innovation

Read More

  • Uber has announced it has sold a $500 million stake in its Uber Freight logistics business to New York-based private equity firm Greenbriar Equity Group.
  • Uber will retain majority ownership of Uber Freight.
  • The investment values the logistics arm of the company at $3.3 billion on a post-money basis.
  • Visit Business Insider’s homepage for more stories.

(Reuters) – Uber Technologies Inc said on Friday New York-based private equity firm Greenbriar Equity Group would invest $500 million in its logistics arm, Uber Freight, valuing the unit at $3.3 billion on a post-money basis.

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.

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

Read More

(Uber Freight Photo)

Uber Freight, the trucking logistics arm of Uber, today announced a $500 million investment led by Greenbriar that values the unit at $3.3 billion.

Uber Freight helps match carriers with shipper’s loads, using technology to expedite and automate a traditionally manual process that involves email and phone calls. Since launching in 2017, it has nearly 65,000 carriers in its network and works with shippers including AB Inbev, Nestle, LG, Niagara Bottling, Heineken, Land O’Lakes, and more.

Convoy hires former Expedia CEO as president and COO as digital freight startup tops 1k employees

“Uber Freight has created an innovative and effective approach to logistics technology that we believe is highly scalable in the coming years,” Michael Weiss, managing partner of Greenbriar, said in a statement. “In particular, we believe that carriers and shippers will be increasingly attracted to the convenience and simplicity that Uber Freight offers in a

Read More

Uber Technologies said it received a $500 million preferred-stock investment in Uber Freight from a group led by Greenbriar Equity, a deal that values the unit at $3.3 billion.



a person standing in front of a sign: Uber Freight Receives $500M From Greenbriar Investment


© TheStreet
Uber Freight Receives $500M From Greenbriar Investment

Uber Freight was launched in 2017 as the shipping arm of Uber Technologies, the parent of the ride-hailing and food-delivery companies.

The freight service enables trucking companies and drivers to book loads just as they would book Uber rides, a company statement says.

Greenbriar is the Rye, N.Y., private-equity firm focused on logistics, transport, manufacturing and more.

Uber Freight said it planned to use the funds to build out its logistics platform and speed new products to market.

Video: BNSF Railway incoming CEO on impact of the pandemic on the rail industry (CNBC)

BNSF Railway incoming CEO on impact of the pandemic on the rail industry

UP NEXT

UP NEXT

As

Read More

Series A investment by Greenbriar will accelerate Uber Freight’s broad market adoption and expand reach

Uber Technologies, Inc. (NYSE: UBER) and Greenbriar Equity Group, L.P. (Greenbriar), a New York-based investment firm and one of the leading investors in the logistics space, announced today that an investor group led by Greenbriar has committed to invest $500 million in a Series A preferred stock financing for Uber Freight, the logistics arm of Uber, valuing the unit at $3.3 billion on a post-money basis. 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 experience in logistics,

Read More