Uber sells $500M stake in its freight business as the ride-hailing giant works to conserve cash – TechCrunch

One year ago, Uber’s business model could be categorized as an “all of the above approach,” a strategy to generate revenue from all forms of transportation, including ride-hailing, micromobility, logistics and package and food delivery.
The COVID-19 pandemic upended that business strategy, prompting Uber to offload its shared micromobility unit Jump, double down on delivery with its acquisition of Postmates and, now, to sell a stake in its growing, but still unprofitable logistics arm, Uber Fre…

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