Uber Freight buys Transplace for 2.25BILLION

Same here.

Transplace seemed like one of the better brokerages.

Now it makes me wonder...

 

The ✂️ will be out cut, cut & cut. Nothing will be left until they figure out no one will haul for those cheap rates.

 

You can't escape Uberization and Amazonation. The quicker someone adapts the better.
Uber works for me. They're like most of those mega brokers, just need to be lucky to pick out those sweet raisins out of the dough. They pay quickly and firmly.
I am extremally careful where and when the loads goes to.
You have to know how to work them.
IF it is outbound, I go out of my way to confirm the load credentials...call receiver (shipper does not matter as much) to find out how good the info is.
IF it is a home backhaul - I don't care as much - the worst can happen is me waiting at home.
For detention, always call 1 hour before, use the app and then follow up.

At problematic situation, yes, you are left to deal with overseas call centers but if the situation becomes too critical someone from the States will contact you. Unfortunately, it seems to be the trend with most of the big brokers these days, except maybe for CH Robinson and Coyote.

 

I’m not a fan of either one before or now after a merger.

Has Uber EVER made a profit? Kinda crazy they can buy companies for billions of dollars when the only reason they have money is through speculative investors.

 

I wonder if they operate at a loss? Money is still made even when the books are, "negative".

 

Uber mobility (aka ride share, their taxi thing, w/e you want to call it) is profitable every quarter except maybe during the pandemic. It did 300 mil in adjusted Ebidtda in Q1 of this year as an example. Between that and investor money is how they stay afloat; all their other business segments and debts cost the company 650 million, so they finished the quarter losing 350 million as a whole.

It's going to be interesting to see how (and when) this changes how Transplace manages the freight they already possess.

 

Considering that that 2.25 billion is something like 12% of their overall net worth as of first quarter this year, Uber's really going to need that to hit. I don't think it will. It doesn't seem like they necessarily understand freight. Color me curious, though. I'm glad that I still haven't given Uber a single solitary penny.

 

Agreed, if they missed on this acquisition heads will roll.