Uber Freight raises $500 million from New York-based private equity firm at a $3.3 billion post-money valuation
Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.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.The investment values the logistics arm of the company 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 Greenbriar, will join Uber Freight's board, the companies said in a statement.Read the original article on
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TikTok employees describe life inside the company as its future hangs in the balance - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Uber Freight raises $500 mln, valuation rises to $3.3 billionUber 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.
Read more »
$500 Hawaii Restaurant Card for unemployed covers food, alcohol, tips - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
How much YouTube pays for views: 100,000, 1 million, 150 million - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Joe Biden broke fund-raising records after debate with Donald Trump - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Risk analysis startup Acin used this pitch to win $12 million funding - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »