Otto Co-Founder Lior Ron Returns to Uber to Lead Uber Freight
Ron joined Uber after the ride-sharing company bought autonomous truck startup Otto. He led the Uber Freight program until he left the company in March
Meir Orbach : 2018-08-08T11:44:21..
Israeli autonomous vehicle entrepreneur Lior Ron was re-appointed to lead Uber’s trucking business, Uber Freight. Ron announced the appointment Tuesday in a post to his personal Facebook page.
On Tuesday, Bloomberg reported that what transpired during Ron’s hiatus was a months-long negotiation to rework the terms of Otto’s acquisition deal. As part of the reworked deal, Bloomberg reported, Uber will give Otto shareholders an equity stake in Uber Freight as a standalone business. The original deal had Otto shareholders taking a cut of the profits Uber generated from its trucking business, while retaining some of Otto Trucking’s intellectual property. Also on Tuesday, a third Otto co-founder, Don Burnette, announced his new autonomous car startup closed a $40 million Series A investment. Burnette founded Kodiak Robotics earlier this year together with Israeli venture capitalist Paz Eshel. The company aims to develop new autonomous driving technologies for the long-haul trucking market.