Khosrowshahi, Investor of Uber Freight’s Strong Rival Convoy, Prepares to Become Uber’s New CEO

Khosrowshahi, Investor of Uber Freight's Strong Rival Convoy, Prepares to Become Uber's New CEO

Uber’s board has started talks with Dara Khosrowshahi, CEO of trip and journey planning company Expedia, for the CEO seat vacated by Travis Kalanick . The new CEO has investments in Convoy , a strong competitor of Uber Freight, Uber ‘s freight services arm, which started operations in May 2017. Known to have invested 2.5 million USD in Convoy ‘s first investment round, Dara Koshrowhshahi has clearly demonstrated her support for Convoy at all milestones to date.

Founded in 2015, Convoy continues to expand its opportunities with an investment of 60 million USD received in the Y Combinator investment tour last July. After the first investment round, Khosrowshahi did not invest in Convoy , while his cousins Ali and Hadi Partovi continued their investments in the last round.

Uber Freight gained momentum when Uber acquired Otto, a self-driving truck start-up. When Uber acquired Otto for $680 million in August 2016, the company began putting its work on its vehicle platform to life. Uber, through Otto, which continues to work actively, aims to use the technology of autonomous freight vehicles in synchronization with its logistics platform, which will bring together its freight and freight carriers.

While Uber’s investments so far approached 13 billion USD, the current value of the company is shown as 69 billion USD.

Source: Recode