Uber Enters Trailer Rental Industry

As one of the most successful rental businesses in the world, Uber are a technology firm with fingers in all sorts of pies. Reigning supreme when it comes to vehicle hire, it appears Uber are now making waves in other markets.

Today, it has been revealed that Uber has entered the truck rental space. Called Powerloop, the business will connect renters with the trailers they need, as and when they need them.

Plans beyond Texas

Connecting trailers with carriers, the service is only available in Texas at the moment. However, sources say that Uber does have plans to roll out the service in other regions of America and eventually Europe.

And, Uber has its very first customer already lined up. Working closely with Anheuser-Busch, the brewer responsible for Budweiser and Bud Light, the firm is apparently trailing an Uber partnership. As part of the test, 250 trailers of the brand’s drink will be transported using trailers sourced by Uber.

Venturing beyond the realms of ride-hailing, Uber is seeming to be doing all they can to turn a profit. Having hit the headlines recently for their financial struggles, could entering the trailer market be their saving grace?

Exploring various avenues of growth in recent years, money-losing Uber has also made developments in their food delivery business. But, why the inherent obsession with diversifying their portfolio? Well, with new ride-hailing transport services brought to market on what feels like a constant basis, core business is not in good shape for the tech firm.

Uber is set to float

While turbulent times when looking at Uber’s books, the firm is still confident is will float on the New York Stock Exchange next month, expected to boast an IPO of $120 billion.