Uber Sells $500m Stake in Freight Business, Valuing Unit at $3.3 Billion
Deal values Uber Freight unit, which acts as a middle man connecting long-haul truckers with shippers, at $3.3 billion. Uber will still retain a majority stake in the unit.
Photo Credit: Robson Hatsukami Morgan
Uber said Friday that an investor group led by New York-based investment firm Greenbriar Equity Group has committed to invest $500 million in Uber Freight. The deal values the unit at $3.3 billion.
“We are tremendously proud of what we have accomplished in a few short years. We have led the industry with technology, transforming dated and analog processes to ensure that both shippers and carriers are equipped to succeed in a rapidly changing industry.” - Uber Freight CEO Lior Ron
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