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Autohome Inc. (ATHM) - $25 value - yours FREE >>
Etsy, Inc. (ETSY) - $25 value - yours FREE >>
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Uber Raises $500M Funding for Freight Unit From Greenbriar
Uber Technologies Inc (UBER - Free Report) recently announced that an investor group led by Greenbriar Equity Group, L.P., a New York-based private equity firm, will invest $500 million in a Series A preferred stock financing for Uber Freight, the company’s logistics arm. The deal values Uber Freight at $3.3 billion on a post-money basis.
With regards to the investment, Michael Weiss and Jill Raker, managing partners of Greenbriar, will join the Uber Freight Board. However, Uber will still have a majority ownership in Uber Freight. It plans to use the investment to scale its logistics platform and ramp up product innovation and provide shippers with “technology to power their supply chains.” Subject to customary closing conditions, the transaction is expected to close this month itself.
Uber Freight was launched in 2017 to facilitate the movement of goods and help communities thrive. Similar to booking an Uber ride, Uber Freight’s driver-first carrier tools allow trucking companies and their drivers to book loads. Meanwhile, Uber Freight’s suite of on-demand logistics solutions, APIs, and software integrations offers shippers seamless planning, budgeting, tendering and tracking of freight, regardless of their procurement needs.
Zacks Rank & Key Picks
Uber carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the Internet - Services industry are Autohome Inc (ATHM - Free Report) , Crexendo Inc (CXDO - Free Report) and Etsy Inc (ETSY - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Autohome, Crexendo and Etsy have rallied more than 20%, 31% and 100%, respectively, so far this year.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>