Uber plans to double its investment in the cargo segment

Uber Technologies plans to double the investment in the cargo segment to stimulate growth on the eve of the initial public offering of shares, Reuters reports. To this end, the company creates a separate business named Uber Freight from the cargo subdivision, headed by Lior Ron, a former employee of Uber, one of the founders of Otto, which produced unmanned trucks. Otto was acquired by Uber in 2016. It is reported that the founders and employees of Otto will receive shares in Uber Freight as part of the reorganization of Uber. During 2019, Uber intends to double the amount of investment in the cargo subdivision created in May 2017, which will remain the key direction for investment in the run-up to the IPO scheduled for next year.

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