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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.

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“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

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(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.

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“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

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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.

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