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Get a furry friend 10/7/2019 Friday Short Haul - Lab-grown meat, fraudulent freight brokering, FMCSA HOS committee, FMCSA Clearinghouse 10/4/2019 UPS takes giant leap in its drone delivery program 10/2/2019 Female drivers are safer bet for trucking companies 9/30/2019 Friday Short Haul - Embark gets financing, FMCSA announces safety grants, Covenant exits Mexico routes, and trucking statistics 9/27/2019 Emissions standards battle heats up between the EPA and California 9/25/2019 Smog checks in the future for California truck drivers 9/23/2019 Friday Short Haul - Volvo Dynamic Steering, Meals for 18 Wheels, speeding crackdown, OOIDA opposes legislation 9/20/2019 Telematics could be insurance-premium-saving boon for fleets 9/18/2019 54 percent of survey respondents still not impressed with telematics technology 9/16/2019 Friday Short Haul - Walmart video, it's churn, not shortage, California's independent contractor bill, hemp drivers plea 9/13/2019 TCA honors three Highway Angels 9/11/2019 Now they're talking about "smart" trailers 9/9/2019 Friday Short Haul - Detention-time comments, truck orders decline, diesel fuel shortage 9/6/2019 Berkeley study says reducing independent truckers can alleviate climate change 9/4/2019 Clearing up concerns about the drug and alcohol clearinghouse 9/2/2019 Friday Short Haul - Hurricane Dorian, Speed limiter bill, Thank a Driver campaign 8/30/2019 Georgia jury awards $280 million for truck-driver-caused multi-fatality 8/28/2019 Friday Short Haul - New eCascadias, Top cities for truck driver jobs, Push against driverless trucks 8/23/2019 Decision on California drivers' employee/contractor status coming down to the wire 8/21/2019 UPS jumps on autonomous bandwagon with TuSimple investment 8/19/2019 FMCSA publishes proposed HOS rule changes 8/16/2019 Fleets, drivers coming to like automated manual transmissions 8/14/2019 CVSA asks for new truck crash study 8/12/2019 Friday Short Haul - HOS revisions delayed, AEB mandate proposed, Koch sued for sex discrimination 8/9/2019 Kodiak Robotics takes lead in autonomous truck industry race 8/7/2019 New York City combats rash of cyclist/truck clashes 8/5/2019 Friday Short Haul - CRST wins lawsuit, OOIDA opposes insurance hike, UPSNav 8/2/2019 Mechanics shortage equals driver shortage in intensity 7/31/2019 DOT announces almost 1$ billion in grants to fix infrastructure 7/29/2019 Friday Short Haul - DOL on sleeper pay, UPS drone delivery, Geowiz ELDs 7/26/2019 FMCSA takes a look at assault, harassment of female and minority drivers 7/24/2019 It's hot out there, what's a trucker to do? Can't idle. 7/22/2019 Friday Short Haul - Utah truck rollovers, aging truckers, lifetime CDL bans 7/19/2019 Truck-mounted LED billboards coming under fire 7/17/2019 Trucker 'drones on' with unique approach to teaching driving skills 7/15/2019 Friday Short Haul - Rhode Island tolls, human smuggling, contractor vs employee status 7/12/2019 ELD mandate deadline looming, many still not compliant 7/10/2019 New "boot" device being deployed to threaten Walmart overnighters 7/8/2019 Friday Short Haul - Prime Inc vs Amazon, mother fights HOS changes, truck drivers appreciation week 7/5/2019 Proper way to fly the American flag on your truck this Fourth of July 7/3/2019 Roundabouts are becoming popular; but are they best for trucks? 7/1/2019 Friday Short Haul - Skills test proposal, driver shortage, hemp sentencing, driverless trucks 6/28/2019 Experts warn of active wildland fire season 6/26/2019 More states signing on to enlist truckers against human trafficking 6/24/2019 Friday Short Haul - Shippers of Choice, insurance rates, wheel spikes, WIT award 6/21/2019 Freight numbers not holding up to 2018's highs 6/19/2019 Truck safety group urges purges of drug abuse drivers 6/17/2019 Friday Short Haul - Self-driving certificate, truck platooning, trade war stacking up cargo 6/14/2019 HOS waiver coming soon for fireworks haulers 6/12/2019 FMCSA takes a further look at detention time 6/10/2019 Friday Short Haul - Autonomous delivery, HOS rules changes, CDL retest 6/7/2019 Roadcheck 2019 in effect this week 6/5/2019 Hemp arrest prompts USDA memo 6/3/2019 Friday Short Haul - Waymo big rigs, Move over sting, Under-21 comments 5/31/2019 Severe weather prompts renewed emergency declaration 5/29/2019 Memorial Day holiday is prime time for cargo thefts 5/25/2019 Friday Short Haul - Hauling hemp, road rage fatality, new rules for autonomous vehicles 5/24/2019 Autonomous trucks on USPS test run 5/22/2019 Future era of cab-less trucks will be the end of HOS rules 5/20/2019 Friday Short Haul - FMCSA under-21 comments, Tesla autonomous car crash, 24,000 drivers sign contract with YRC 5/17/2019 Under-21 interstate drivers getting serious look by FMCSA 5/15/2019 Trucker Buddy program matches drivers with a classroom; 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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? 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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

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