August 7, 2018 / 8:52 PM / 4 months ago

Uber doubles down on freight business

SAN FRANCISCO, Aug 7 (Reuters) - Uber Technologies Inc is creating a standalone business out of its long-haul trucking business, with plans to double its investment in the unit to drive growth ahead of a much-anticipated initial public offering.

Uber said on Tuesday its separate freight business, which connects long-haul truckers with shippers, will be led by Lior Ron, who left Uber earlier this year.

Ron co-founded a self-driving trucking company Uber acquired in 2016 that became the centerpiece of a high-stakes lawsuit over trade-secrets theft. (Reporting by Heather Somerville; Editing by David Gregorio)

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