Uber recently announced an exclusive multi-year partnership with New York's taxicab board. Through this new partnership, Cargo will set up car-top displays on up to 3,500 yellow cabs, which will allow Uber to cross 1 billion ad impressions by EOY. This announcement reinforces Uber's commitment to developing its digital out-of-home offering, and follows previous market launches in LA, Chicago, Atlanta and Dallas.
Cargo powers the digital car-top technology behind the network, following a successful pivot from its retail distribution network in early 2020. "Cargo has developed a state-of-the-art operations and logistics organization" said Guy Peterson, a senior business manager at Uber. The company is now strategically positioned to tap one of the fastest growing advertising markets, with OOH being poised for double digits growth in 2021 (GroupM).
Bleu Capital has actively been working with Cargo's leadership team to generate new financing opportunities and Jean Pierre recently joined the company's board to help develop its current growth momentum. Our focus is now placed on supporting the expansion, while continuously implementing best-in-class operating principles.
About: Cargo is the operator of a cartop advertising platform for the rideshare economy designed to help drivers earn additional income.