July 20, 2017

Despite Bumps in the Road, Uber for Trucking Services Gain Traction



Uber Freight App Icon
UBER Freight app icon from Google Play Store

Loadsmart, an on-demand freight startup, in action. (Photo: Loadsmart) Remember Cargomatic? The Los Angeles start-up snagged attention and investor capital by promoting itself as an “Uber for trucking” but laid off a substantial chunk of its staff a year ago after failing to attract enough customers or hit other business milestones.

Today, Cargomatic appears to be a shell of its former self. That’s not the case for other companies in the nascent on-demand freight business, which is gaining momentum like a truck on a 6 percent downgrade.

On-demand freight start-ups such as Transfix, Flexport, Loadsmart and Convoy continue to add partners, and executives at those companies maintain revenue and profits are growing as a result. Their clients include major grocery chains, consumer goods manufacturers and others using the services for full trailer-load (FTL) shipping.

Executives at the start-ups say their online platforms are attracting hundreds of carriers and thousands of drivers as truckers seek alternatives to dealing with traditional brokers to secure the most lucrative loads.

Start-ups aren’t the only ones enticed by the prospect of disrupting the $700 billion U.S. freight industry. Uber Technologies is moving into the business through its Uber Freight division, though the company won’t discuss current operations or […]

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The News for the Gig Economy Staff is constantly searching the web for the latest news regarding freelancing and gig platforms to bring them to you in one handy place. All articles with this generic author have been sourced with the original location at the bottom of the piece. We encourage our readers to view the original source of all excerpts. NGE is a project of ARC Online, LLC.

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