Transplace Buy Shows Uber 'Leaning Into Freight': Cowen

Uber’s announcement it’s buying Transplace for $2.25 billion shows the ride-hailing company is “leaning into Freight” after divesting noncore businesses, Cowen analyst John Blackledge wrote investors Friday. On Thursday, Uber said the purchase from TPG Capital will create “one of the leading logistics technology platforms, with one of the largest and most comprehensive managed transportation and logistics networks.” Uber Freight head Lior Ron said this brings together an “industry-first shipper-to-carrier platform that will transform shippers’ entire supply chains.” Transplace has access to over 30,000 carriers, and is expected to manage about $15 billion worth of freight this year, said Blackledge. Uber Freight would serve more customers at all levels of the freight industry and expand its presence into Mexico, said the company.