Add news
March 2010
April 2010
May 2010June 2010July 2010
August 2010
September 2010October 2010
November 2010
December 2010
January 2011
February 2011March 2011April 2011May 2011June 2011July 2011August 2011September 2011October 2011November 2011December 2011January 2012February 2012March 2012April 2012May 2012June 2012July 2012August 2012September 2012October 2012November 2012December 2012January 2013February 2013March 2013April 2013May 2013June 2013July 2013August 2013September 2013October 2013November 2013December 2013January 2014February 2014March 2014April 2014May 2014June 2014July 2014August 2014September 2014October 2014November 2014December 2014January 2015February 2015March 2015April 2015May 2015June 2015July 2015August 2015September 2015October 2015November 2015December 2015January 2016February 2016March 2016April 2016May 2016June 2016July 2016August 2016September 2016October 2016November 2016December 2016January 2017February 2017March 2017April 2017May 2017June 2017July 2017August 2017September 2017October 2017November 2017December 2017January 2018February 2018March 2018April 2018May 2018June 2018July 2018August 2018September 2018October 2018November 2018December 2018January 2019February 2019March 2019April 2019May 2019June 2019July 2019August 2019September 2019October 2019November 2019December 2019January 2020February 2020March 2020April 2020May 2020June 2020July 2020August 2020September 2020
News Every Day |

German startup sennder acquires Uber’s European freight business

September 16, 2020

BERLIN (Reuters) – German freight startup sennder said on Wednesday it had acquired Uber’s <UBER.N> European freight business in an all-stock deal that will see the U.S. ride hailing company become a minority shareholder.

The deal marks the second acquisition this year by Berlin-based sennder, a digital freight forwarder founded in 2015 that specialises in full-truck loads, as it seeks to extend its lead in Europe.

“This acquisition strengthens our position as Europe’s number one digital logistics provider,” said David Nothacker, CEO and co-founder of sennder.

For Uber, which only entered the German freight market in July 2019, the deal will extend its reach in Europe while the alliance with sennder would extend to offering advanced freight logistics services in the United States and Canada.

sennder is one of a number of logistics-focused startups in the bustling Berlin tech scene that has sought to modernise an industry dominated by family-owned trucking firms still used to working with a phone, pen and paper.

Its founders see huge potential to boost efficiency in the full-load market – where sennder matches 50,000 cargoes a month – by reducing the number of trips in which trucks make a return journey empty.

Investors Accel, Lakestar, HV Ventures, Project A and Scania have invested 120 million euros ($143 million) into sennder, which earlier this year merged with France’s Everoad as it targeted 1 billion euros in revenue by 2024.

Terms for the deal were not disclosed. ($1 = 0.8419 euros)

(Reporting by Douglas Busvine; Editing by Michelle Adair)



Read also

Moya On Nadal’s RG Chances: 'The Margin For Error Is Much Narrower'

The heart-breaking reason that Ansu Fati missed out on the Man of the Match after a fine display vs Villarreal

Croydon police shooting suspect named as Louis De Zoysa as ‘gun supplier’ arrested in Norfolk after dawn raids



News, articles, comments, with a minute-by-minute update, now on Today24.pro




Today24.pro — latest news 24/7. You can add your news instantly now — here