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In the Marketplace

By ljnstaff
July 01, 2017

Gig Economy rideshare provider, Uber, has launched Uber Freight, an app that matches trucking companies with loads to haul. According to Uber, vetted users download the app, search for a load, and then tap to book it. A rate confirmation is immediately forwarded, which eliminates a common anxiety in trucking about whether or not the load is really confirmed. The company stated that it is committed to paying within a few days, fee-free, for every load, claiming, “when things don't go as planned or drivers have to wait longer than expected, we pay for that too.” Once a driver begins using the app, the published rates will be guaranteed and the app's GPS will help track the status of the load, and prove to shippers when a driver arrived at a facility.

Penske Truck Leasing of Reading, PA, has entered into an agreement to acquire Richmond, VA-based Old Dominion Truck Leasing. Financial terms were not disclosed. Old Dominion serves approximately 360 customers in diverse industry sectors from 11 locations in five states. The acquisition adds approximately 1,400 tractors, trucks and trailers to Penske's fleet. The transaction is subject to customary closing conditions and the parties anticipate closing this month.

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