Uber Freight, Uber Eats and other non-ridesharing lines of business are the bright spots in terms of growth for Uber Technologies, according to a Thursday filing with the Securities and Exchange Commission ahead of the company’s upcoming initial public offering (IPO). Uber Freight posted $359 million in bookings in 2018, according to the filing, placing it roughly in the top 30 of Transport Topics 2018 Top Freight Brokerage Rankings. Since Uber Freight’s public launch in the United States in May 2017, they have contracted with over 36,000 carriers that in aggregate have more than 400,000 drivers and have served over 1,000 shippers, including global enterprises such as Anheuser-Busch InBev, Niagara, Land O’Lakes, and Colgate-Palmolive. Uber Freight has grown to over $125 million in revenue for the quarter ended December 31, 2018. The filing lays out what Uber sees as competition for its brokerage platform. It lists competitors as global and North American freight brokers such as C.H. Robinson, Total Quality Logistics, XPO Logistics, Convoy, Echo Global Logistics, Coyote, Transfix, DHL, and NEXT Trucking. The company listed the most substantial risk factor to the Uber Freight business as a lack of carriers.
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