News, Interviews, and Happenings From The Trucking World

Sorted By:

Tag

Trucking News (22) Trucking Industry Concerns (22) Truckers Technology (17) Advice For New Truck Drivers (12) FMCSA (10) Adverse Conditions (10) Truck Equipment (9) Truck Driver Safety (9) Hard Lessons Learned (9) Safe Driving Tips (9) Driver Responsibilities (9) Driver Solutions (8) The Economy And Politics (8) Life On The Road (8) Trucking Accidents (7) Autonomous Trucks (7) Owner Operator (6) Choosing A Trucking Company (6) Self-Driving Vehicles (6) Hours Of Service (6) Trip Planning (5) Truck Driver Salary (5) Medical Certification (5) Changing Careers (5) Becoming A Truck Driver (5) Truck Maintenance (5) Drug and Alcohol Testing (4) Electric Semi (4) TMC Transportation (4) Trailers (4) Truck Driver Training (4) Understanding The Laws (4) Truck Stops (4) Getting Your CDL (3) CDL Qualifications (3) DOT Physical (3) Women In Trucking (3) Distracted Driving (3) DOT (3) Swift Transport (3) Cell Phone & Wireless (3) First Solo Months On The Road (3) Dry van (2) Dealing With The Weather (2) Safe Haven (2) Background Checks (2) Electronic Logbooks (2) Knight Transport (2) CR England (2) Prime Inc (2) CDL Exam (2) PAM Transport (2) Pre-trip inspection (PTI) (2) Health Concerns (2) Truck Driving Lifestyle (2) Dispatcher Issues (2) Guns In Trucking (2) Return-to-Duty (2) NYC (2) Logbook Questions (2) CDL Training (2) Truck Drivers Tax Questions (1) Split Sleeper Berth Rule (1) Per Diem Pay (1) Military Veterans In Trucking (1) Tips for Parking (1) Firearms (1) On The Road In Training (1) Food & Eating On The Road (1) Videos (1) Drivers Past Legal Issues (1) Driving Record Issues (1) Refrigerated (1) Doubles and Triples (1) US Xpress Transport (1) Load Securement (1) Pre-Employment Screening Program (1) Time Management (1) Truck Driving Stories (1) SAP (1) JB Hunt (1) Exercise and Fitness (1) Older truck drivers (1) Items To Bring On The Road (1) Company Sponsored CDL Training (1) Regional Jobs (1) Company Trainers (1) Free CDL Training (1) Sleep Apnea (1) CDL Pre-Hire (1) Dealing With The Boss (1) Roehl Transport (1) Choosing A Truck Driving School (1) Weapons (1) Maverick Transport (1) LTL Driving (1) CDL Test Preparation (1) Recruiter Issues (1) Crete Carrier (1) Werner Enterprises (1)

Author

Date

Truck drivers may soon see "phantoms" driving yard trucks 4/22/2019 Friday Short Haul - Nikola big rigs, WIT welcomes Peterbilt, Oregon crashes, Border crossings 4/19/2019 Carriers claim financial benefit of putting up drivers in hotels 4/17/2019 Uber's IPO application reveals interesting data about its freight brokerage business 4/15/2019 Friday Short Haul - CDL examiner arrested, tolls proposed for trucks, marijuana use on the rise 4/12/2019 Smart Load Board will get carriers the loads they need 4/10/2019 Huge lines and long wait times greet carriers at Mexico border 4/8/2019 Friday Short Haul - Marijuana, ATA campaign, personal conveyance rules 4/5/2019 Over-the-air downloads revolutionize parameter updates 4/3/2019 Don't get scammed by skimmers 4/1/2019 Friday Short Haul -- New Cascadias honored, motorist survey, U.S, Xpress awarded, rest stop parking 3/29/2019 Legislators address underride collisions, propose more underguards for trucks, trailers 3/27/2019 Motorists soon may encounter a different kind of truck convoy 3/25/2019 Friday Short Haul -- Women in Trucking, irate motorist, FMCSA eases HOS, Safe-Cap 3/22/2019 Recent survey shows cost of roadside repairs is rising 3/20/2019 FMCSA announces drug and alcohol clearinghouse website 3/18/2019 Friday Short Haul - Swift settlement, driver shortage myth, TCA Best Fleet award 3/15/2019 The hidden danger of looking but not seeing 3/13/2019 Accident scammers target trucks for financial payout 3/11/2019 3/9/2019 3/9/2019 Friday Short Haul - Snow on the roof, bypassing toll road, Waze under fire 3/8/2019 Retailers blame driver shortage for price increases 3/6/2019 Drivers' smartphones may be clue to road roughness 3/4/2019 Friday Short Haul -- Freight rates, HOS changes, tonnage reports 3/1/2019 New tax changes hit drivers hard 2/27/2019 FMCSA to implement under-21 interstate driver program for former military 2/25/2019 Friday Short Haul -- Connecticut tolls proposed, hydrogen fuel-cell trucks, cell phone use 2/22/2019 Congress committee looks at state of America's highways 2/20/2019 Number of cargo thefts is down; but dollar value about the same 2/18/2019 Friday Short Haul -- Crossing the border, CA sues FMCSA, Lobbying against larger trucks 2/15/2019 Detention - A problem still in search of a solution 2/13/2019 February Highway Angels honorees named 2/11/2019 Friday Short Haul -- C.R. England announces pay raises, eCommerce impact on trucking, TCA announces best fleets 2/8/2019 Is a guaranteed minimum pay the solution to the driver shortage? 2/6/2019 Long CDL testing wait times cost economy billions of dollars; not helping driver shortage 2/4/2019 Friday Short Haul -- Walmart hiring, Uber Freight App, Speed-limiter Law, America's Road Team 2/1/2019 Cranking -- The Good, The Bad, and the Ugly 1/30/2019 California survives challenge to its low-carbon fuel standards 1/28/2019 Friday Short Haul - Highway robbery ... autonomous trucks ... new trailers 1/25/2019 LithiumHub enters jump-starter market with Jumpbooster JP30 1/23/2019 2019 Looks Good For The Transportation Industry 1/21/2019 Raymond Burt named TMC Trainer of the Month for February 2018 3/28/2018 TMC Transportation Announces Recipient of Prestigious Wheel Master Award 3/7/2018 TMC Transportation Named The Home Depot’s Flatbed Carrier of the Year For Fourth Straight Year 2/28/2018 Pay Raises & New Peterbilts for PAM Drivers 2/26/2018 New DOT Drug Testing Rules Effective Jan 1, 2018 1/11/2018 Amtrak Derailment: Trucks Haul 270,000 Pound Locomotive Engine During Cleanup 12/21/2017 Pepsi Places Largest Order Yet For Tesla Electric Trucks 12/12/2017 Kavin Hallett named Trainer of the Month for October 2017 12/8/2017 Over 100,000 Truck Drivers Likely Have Undiagnosed Sleep Apnea And More Testing Is On The Way 8/10/2017 Drivers Share Their Best Tips, Tricks, And Secrets For Life On The Road 7/18/2017 Drivers Are Losing Money By Taking The Wrong Approach 7/13/2017 Truckers and Guns: What Is and Is Not Legal 7/6/2017 Preparing To Go Solo For The First Time? Experienced Drivers Share Their Best Advice 6/29/2017 The Truck Stop Survival Guide: Advice From Experienced Drivers 6/15/2017 The Worst Cities For Traffic In The U.S. For 2017 6/8/2017 We Ask Drivers How They Would Make The Logbook Rules Better 5/30/2017 Self Driving Trucks Are Not Coming Anytime Soon 5/25/2017

Uber's IPO application reveals interesting data about its freight brokerage business

Dave Wickenhauser on Mon, April 15, 2019

Last Updated: Mon, April 15, 2019

Driver uses Uber's Smart Load app

Uber, the ride-hailing giant that gives taxi companies headaches has set its sights on competing against the top players in the freight brokerage business.

As reported here at TruckingTruth in a February 1 article, Uber had announced its intentions by offering a phone app that allows drivers to easily book loads and perform a number of useful tasks.

Now, in another step up Uber has filed a registration statement late last week preparatory to its May IPO filing, causing the release of more information about its freight brokerage plans.

According to an article on Barron's website, Uber reported $50 billion in gross bookings in 2018, about six times as large as the next-nearest competitor, Lyft. Uber also disclosed that it had booked some $175 million in Uber Freight business in the fourth quarter alone of 2018, and more than $370 million in sales for the whole year.

These are significant numbers, according to industry watchers. There are more than 2 million semi-trucks on the road right now, so Uber's early share of the brokerage business for those drivers already add up to about 20 percent.

“Freight was markedly bigger than we were expecting and will be a major focus of the roadshow in our opinion,” Wedbush analyst Dan Ives told Barron’s. “This is a clear shot across the bow at freight brokerage players that Uber is a force to be reckoned with.”

According to the filing, “Uber Freight greatly reduces friction in the logistics industry by providing an on-demand platform to automate and accelerate logistics transactions end-to-end. Uber Freight connects carriers with the most appropriate shipments available on our platform, and gives carriers upfront, transparent pricing and the ability to book a shipment with the touch of a button.”

This information is coming out now because as part of the IPO process companies must file a registration statement and host a "roadshow" in order to allow potential investors to review the company's financial numbers and have questions answered.

Ives believes Uber Freight, launched in May 2017, is going after high-level brokers like C.H. Robinson, XPO Logistics and Expeditors International of Washington; but also trucking companies such as Knight-Swift Transportation that have their own fleets but that also offer brokerage services.

Other competitors listed in the filing included all of the other ride-sharing companies like Lyft, Ola, Careem, Didi, Taxify and Yandex.Taxi; freight brokerage businesses or carriers like Total Quality Logistics, Convoy, Echo Global Logistics, Coyote, Total Quality Logistics, Transfix, DHL and Next Trucking; and driverless vehicle enterprises such as Waymo, Cruise Automation, Tesla, Apple, Zoox, Aptiv, May Mobility, Pronto.ia, Aurora and Nuro.

In its S-1 filing Uber disclosed that it has already contracted with more than 36,000 carriers representing more than 400,000 drivers. Uber Freight has also served more than 1,000 shippers, including large ones like Anheuser-Busch InBev, Niagara, Land O’Lakes, and Colgate-Palmolive.

Also in the S-1 filing, Uber noted that it owns only 89 percent of Uber Freight, with the rest likely owned by Otto, the company Uber purchased to pursue its self-driving truck goals.

It has also announced opening freight brokerage service in Europe.

What is unknown from Uber Freight's filing is whether Uber will book drivers all the way to the destination, or will they hand off that job to local drivers to make the last-mile delivery. Also, some question if Uber Freight will match loads to drivers on existing freight broker networks, and do existing freight brokers feel the pinch from Uber's moving into that segment of the industry yet?

Sources: Barrons, FreightWaves, CNBC

Tagged Under:

Driver Solutions Knight Transport Owner Operator Swift Transport Trip Planning Truckers Technology Trucking News

Join Us!

We have an awesome set of tools that will help you understand the trucking industry and prepare for a great start to your trucking career. Not only that, but everything we offer here at TruckingTruth is 100% free - no strings attached! Sign up now and get instant access to our member's section:
High Road Training Program Logo
  • The High Road Training Program
  • The High Road Article Series
  • The Friendliest Trucker's Forum Ever!
  • Email Updates When New Articles Are Posted

Apply For Paid CDL Training Through TruckingTruth

Did you know you can fill out one quick form here on TruckingTruth and apply to several companies at once for paid CDL training? Seriously! The application only takes one minute. You will speak with recruiters today. There is no obligation whatsoever. Learn more and apply here:

Apply For Paid CDL Training

About Us

TruckingTruth was founded by Brett Aquila (that's me!), a 15 year truck driving veteran, in January 2007. After 15 years on the road I wanted to help people understand the trucking industry and everything that came with the career and lifestyle of an over the road trucker. We'll help you make the right choices and prepare for a great start to your trucking career.

Read More

Becoming A Truck Driver

Becoming A Truck Driver is a dream we've all pondered at some point in our lives. We've all wondered if the adventure and challenges of life on the open road would suit us better than the ordinary day to day lives we've always known. At TruckingTruth we'll help you decide if trucking is right for you and help you get your career off to a great start.

Learn More