Transport Topics Online  
The Newspaper of Trucking and Freight Transportation
Welcome  Guest  Log In         
2/16/2017 4:00:00 PM Write a Letter to the Editor Write a letter to the Editor

DB Schenker Buys $25 Million Stake in UShip


uShip

Third-party logistics provider DB Schenker purchased a $25 million stake in online freight intermediary uShip, strengthening a partnership between the companies that work on a joint European venture.

Schenker, owned by German company Deutsche Bahn AG, reached an exclusive agreement with uShip in July to form Drive4Schenker, an online trucking platform powered by uShip PRO. The program launched in Germany earlier in February, and it will roll out across Europe before the end of this year.

RELATED: Mike Williams to become next CEO at uShip

“Major players like DB Schenker are taking advantage of technology that will automate and digitize their operations, helping them maintain market leadership and evolve with demand,” uShip CEO Mike Williams said. “It’s a thrilling time to be at the leading edge of this logistics transformation and to deepen our partnership through DB Schenker’s strategic investment.”

A uShip spokeswoman declined to say how much equity ownership DB Schenker would receive through the investment.

The Austin, Texas, freight marketplace provider has raised $50 million to date, with previous investments from Benchmark Capital, DAG Ventures and Kleiner Perkins Caufield Byers.

DB Schenker USA ranks No. 17 on the Transport Topics Top 50 list of the largest logistics companies in North America.

By Transport Topics


Follow Transport Topics on Subscribe to get up to the minute news briefs and more from our feeds. RSS Twitter Twitter Facebook Facebook

© 2017, Transport Topics, American Trucking Associations Inc.
Reproduction, redistribution, display or rebroadcast by any means without written permission is prohibited.


  RELATED ARTICLES

 
LATEST NEWS



 
LATEST JOBS
Follow Us

Newsletters

TTExpress
This free daily newsletter delivers the latest headlines.

TT Executive Suite
This subscriber-only newsletter program tailors your news.

Services

Advertising

EMU
iTech
© American Trucking Associations, Inc., All Rights Reserved TTNews.com Privacy Statement