Uber sells relevant part in its freight business
Uber sold a US$500 million stake of its logistic platform, Uber Freight, to the Greenbriar Equity Group, an investment group based in New York. Uber’s aim was to retain more cash to face the negative effects of the COVID-19 pandemic. Uber Freight was inaugurated in 2017 in the USA, and expanded to Canada and Europe later. In the past years, Uber expanded its business to include not only ride-hailing, but also micro-mobility (Jump), logistics and package (Uber Freight), and food delivery (UberEats). In 2020, Uber had to reduce its operations and shares in logistics, but also in micro- mobility and food delivery due to the pandemic.