digital brokerage

Uber Freight’s EBITDA loss widens from ’22 but improves from Q1

Uber Freight’s second-quarter earnings before interest, taxes, depreciation and amortization, the key financial metric at the digital brokerage, recorded a large decline from a year ago but improved sequentially.

Even with the addition of Transplace, Uber Freight has now had three consecutive quarters of negative EBITDA after three consecutive quarters of barely positive EBITDA.

EBITDA for the second quarter was negative $14 million, down from positive $5 million in the corresponding quarter a...

https://www.freightwaves.com/news/uber-freights-ebitda-loss-widens-from-22-but-improves-from-q1

OOIDA survey points 2 ways on independent truckers’ digital brokerage use

The just-released 2022 Freight Rate Survey (FRS) by the research arm of the Owner-Operator Independent Drivers Association has a torrent of numbers that reflect a freight market that was tremendously profitable for independents in 2021 but faltered as it moved through 2022.

But among the numbers is one that stands out: four. That is the percentage of respondents to the FRS — conducted by the OOIDA Foundation — who said they utilized the services of digital brokerage services.

That number is down...

McGuigan, who led sale of Transplace to Uber Freight, stepping down 

Frank McGuigan, the president and COO of Uber Freight who came to the company in its acquisition of Transplace, is stepping down.

In an email sent to numerous Uber Freight employees Thursday, Uber Freight CEO Lior Ron said the news was “bittersweet” that McGuigan would be leaving his position as of Jan. 31. However, McGuigan will remain on the Uber Freight board of directors, Ron said in the email, and “will continue supporting and advising our organization’s ongoing and future success.”

McGuigan...

https://www.freightwaves.com/news/mcguigan-who-led-sale-of-transplace-to-uber-freight-stepping-down

Small Fleet recap: Meeting small carrier needs with Werner

FreightWaves' Thomas Wasson and Werner's Matt Parry chat during the Small Fleet & Owner-Operator Summit.

This fireside chat recap is from FreightWaves’ Small Fleet & Owner-Operator Summit Wednesday.

FIRESIDE CHAT TOPIC: How asset-based brokerages leverage experience to meet small carrier needs.

DETAILS: Matt Parry joins FreightWaves’ Thomas Wasson to talk about how asset-based brokerages add value and access to smaller carriers’ freight networks. With decades of experience and thousands of trucks, these brokerages can provide additional benefits compared to brokerages light on digital assets in...

https://www.freightwaves.com/news/small-fleet-recap-meeting-small-carrier-needs-with-werner

Drilling Deep: Oil market misinformation swirls after Ukraine invasion

As the world watches the Russian invasion of Ukraine, and oil markets start gyrating in response, there’s a lot of bad information out there about the state of the oil market.

That’s not a good formula in an industry in which fuel prices are a major cost for transportation proviers. Host John Kingston clears up some of the so-called “facts” this week on Drilling Deep.

Also on the podcast, Transfix and The Trucking Fitness Company are teaming up to get a fitness program into the hands of drivers....

https://www.freightwaves.com/news/drilling-deep-oil-market-misinformation-swirls-after-ukraine-invasion

Transplace acquisition begins to boost bottom line at Uber Freight

The EBITDA numbers at Uber Freight continue to climb, boosted by the $2.25 billion acquisition of Transplace that closed in the fourth quarter, with other indicators getting stronger as well.

Uber Freight moved closer in the fourth quarter of 2021 to positive earnings before interest, taxes, depreciation and amortization as measured by EBITDA relative to gross bookings. That ratio was a negative 2.3% in the fourth quarter, up 10.8 percentage points from the fourth quarter of 2020.

A year ago,...

https://www.freightwaves.com/news/transplace-acquisition-begins-to-boost-bottom-line-at-uber-freight

Wall Street analysis puts value of Uber Freight at $3.5B

A report from Morgan Stanley’s transportation research team, headed by Ravi Shanker, estimates the value of Uber Technologies’ (NYSE: UBER) “sum of parts” at $72 per share. Of that, about $2 can be attributed to Uber Freight, based on valuing Uber Freight at $3.5 billion. 

The $3.5 billion valuation does not have a perfect peer comparison, which would need to be a digital brokerage with public financial data. Other leading digital brokerage companies, like Convoy, are privately held.

But that...

https://www.freightwaves.com/news/wall-street-analysis-puts-value-of-uber-freight-at-3-5b

Google-backed Chinese trucking startup raises $1.7B

Full Truck Alliance (FTA), a Chinese digital freight-matching startup, has raised $1.7 billion from a group of heavy-hitter investors including SoftBank’s Vision Fund, Sequoia, Permira and Fidelity, the Wall Street Journal reported.

The raise, announced on Tuesday, came two years after FTA, known as Manbang in China,  brought in $1.9 billion from investors including SoftBank and Alphabet Inc.’s venture capital fund Capital G.

Formed by the merger of two rival companies in 2017, Full Truck...

https://s29755.pcdn.co/news/google-backed-full-truck-alliance-raises-17b

Technology is changing the way freight brokerages operate

XPO incorporates AI and machine learning into brokerage

Digital brokerages have dominated headlines in recent years, but some old standbys continue to perform. And for some of them, like XPO Logistics (NYSE: XPO), the idea that digital brokerages represent a new way of moving freight masks the fact that many traditional brokerages have remained at the cutting edge, and even in the lead, of the digital revolution.

“We don’t think of ourselves as an incumbent broker,” Lou Amo, president of Freight Brokerage and Expedite at XPO Logistics, told...

https://www.freightwaves.com/news/technology-is-changing-the-way-freight-brokerages-operate

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