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Greenbriar Equity Group L.P., a New York investment firm in the logistics sector, led a $500 million Series A preferred stock financing for Uber Freight, putting its value at $3.3 billion, Uber Technologies Inc. announced Friday Oct. 2 .Under the terms of the investment, Uber will retain its majority ownership in Uber Freight. The cash will be used to
stanley cup grow its transportation logistics platform and speed products to equip shippers with technology to power their supply chains, the San Franc
stanley borraccia isco-based company said.Michael Weiss and Jill Raker, managing partners at Greenbriar, will join the Uber Freight聽Board of Directors. Between the two of them, they have more than 40 years of logistics investing experience, having managed many investments across the sector.Launched three years ago, Uber Freight connects truck drivers with shippers through its app, similar to how the companys ride-hailing
stanley usa app pairs drivers with customers seeking a ride.聽Today, the business has nearly 65,000 carriers in its network and thousands of shippers as customers, Uber said on its website. Uber Freight has created an innovative and effective approach to logistics technology that we believe is highly scalable in the coming years, Weiss said in a statement. We are eager to share the extensive knowledge and expertise we have built through our decades-long involvement in the logistics sector. In September, sennder, the Berlin-based digital road freight logistics startup, announced it acquired Ubers Europea Azrc How Luxury Can Successfully Go Digital
Massachusetts Institute of Technology MIT , aiming to take a lead in educating on artificial intelligence, machine learning and advanced computing, is creating a new college called MIT Stephen A. Schwarzman College of Computing with a planned investment of $1 billion.The New York Times, citing MIT, reported that two-thirds of the $1 billion has already been raised, including a $350 million gift from Schwarzman, who is chief executive of the Blackstone Group, a large private equ
stanley cup ity firm. The new school will hire 50 new faculty members and many more fellowships and graduate students.Rafael Reif, the president of MIT, told The New York Times that the aim of the college is to聽 educate the bilinguals of the future. 聽That includes people in fields like biology, chemistry, politics, history and linguistics who are skilled in applying modern computing and
gourde stanley technology to those industries. Reif noted that the departments won ;t be siloed like the current state of education, with half of the聽faculty
stanley fr positions focused on advancing computer science and the other half working together.聽 We need to rewire how we hire and promote faculty, added Martin Schmidt, the provost of MIT.According to the report, as it stands, many dual-major programs also require the student to take computer courses or artificial intelligence courses. With the new school, computing is being baked into the entire curriculum. Degrees will be granted with names the school hasn ;t come up with yet.Melissa Nobl
