Uber’s trucking unit to buy logistics planner Transplace for $2.25 billion

2021-07-22 20:44:26

Uber Technologies Inc’s trucking business is buying transportation logistics company Transplace for about $2.25 billion from private equity firm TPG Capital, in a deal that is expected to speed up the unit’s path to profitability.

The acquisition, announced by Uber on Thursday, consists of up to $750 million in the company’s common stock and the remainder in cash.

Uber Freight operates as a middle man in the fragmented long-haul trucking business, connecting truckers with shippers. Transplace works

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Didi loses $22 billion in market cap after China crackdown

2021-07-06 17:06:06

By Divya Balji and Filipe Pacheco

Didi Global Inc. plunged in premarket trading after a Chinese regulator ordered the removal of the company’s platform from app stores, days after a $4.4 billion initial public offering in the U.S.

Shares of the China-based tech firm fell as much as 30 per cent to $10.90, wiping out about $22 billion of market value and taking the stock below the $14 IPO price. They traded at $12.17 as of 6 a.m.

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SoftBank-backed DoorDash enters Japan

2021-06-09 11:15:31

U.S. food delivery firm DoorDash, which is backed by SoftBank Group, announced the launch of services in Japan on Wednesday, joining an increasingly crowded market that has grown during the Covid-19 pandemic.

Services will be initially limited to the city of Sendai in Miyagi prefecture, the money losing delivery firm told reporters, in a step that follows its expansion to Canada and Australia.

“Our strategy has always been to empower local economies, especially in the suburban markets

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Uber sees gradual return of US drivers, modest decrease in wait times

2021-06-01 19:44:37

Austin, Texas (US): Uber Technologies Inc. said on Tuesday drivers were gradually returning to its ride-hailing platform, allowing for a modest decrease in passenger wait times as the company seeks to take advantage of a post-pandemic return in travel demand.

Uber said the week to May 17 marked a new record for drivers returning to the road since the start of 2021, with active driver hours increasing 4.4% from the previous week. Overall, the company said 33,000

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