Uber Technologies have finally announced this Wednesday to enter the business of leasing trailers. This new business from Uber will be called Powerloop and it will be affiliated with Uber Freight which is basically a business of connecting shipping executives with different trucks. The business of Powerloop will be of renting trailers to different carriers and right now it is available in Texas. At present, Uber is planning to expand its business and spread their business worldwide. The first business of Powerloop is Anheuser Busch.
Uber has been losing money for quite some time and right now they are trying to grow their business in different sectors to make some money. Some of the sectors that Uber is entering to make money are food delivery and leasing trailers. According to Uber, the trailer leasing business is still untouched by any giant and they would like to capitalize on this idea and make a business out of it. Uber plans to take their business public next year at a valuation of $120 billion.