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Uber's trucking division Uber Freight to acquire Transplace in $2.25 billion deal

Uber is buying the transportation logistics company from TPG Capital.

News 12 Staff

Jul 23, 2021, 12:22 PM

Updated 1,065 days ago


Uber Freight, Uber's trucking division, announced it will acquire Transplace in a deal that values the company at $2.25 billion. Uber is buying the transportation logistics company from TPG Capital. The deal consists of up to $750 million in common stock of Uber. It's an interesting move for the company, which has been pouring money into its Uber Eats business and leaning away from self-driving and flying taxis.
Instacart is entering the warehouse business as it aims to expand its reach by building fulfillment centers for supermarkets. The centers would be built over the next 12 months in or near grocery stores. Instacart will use robots to pull items from warehouses and have its workers pack and deliver orders to customers. This comes as the company is gearing up for an IPO.
Didi shares are on the decline once again. This comes as Bloomberg reports that China could impose harsh penalties in response to the ride-hailing giant's IPO last month. These penalties could reportedly range from a hefty fine likely bigger than the $2.8 billion one Alibaba paid earlier this year. The penalties may also include a suspension of some operations, a withdrawal of Didi's U.S. shares, or delisting all together.

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