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Uber doubles down on freight business


Uber said it will double its investment over the next year in Freight, a brokerage service set up for truck drivers and fleet managers looking for cargo to haul across the US. — Reuters

Uber said it will double its investment over the next year in Freight, a brokerage service set up for truck drivers and fleet managers looking for cargo to haul across the US. — Reuters

Uber Technologies Inc is creating a standalone business out of its long-haul trucking business, with plans to double its investment in the unit to drive growth ahead of a much-anticipated initial public offering.

Uber said its separate freight business, which connects truckers with shippers, will be led by Lior Ron, a former employee who left the ride-services firm in March. During Ron's absence, the company negotiated a deal allowing for his return that also gave Uber Freight more flexibility to make acquisitions or strategic investments.

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