O’Melveny Advises Self-Driving Trucks Startup Otto in Acquisition by UberSeptember 06, 2016
FOR IMMEDIATE RELEASE
SILICON VALLEY — September 6, 2016 — O’Melveny advised Otto, a startup committed to rethinking the future of transportation starting with self-driving trucks, in its acquisition by Uber.
O’Melveny partners Paul Sieben, Andrew Dolak, Eric Amdursky, and Robert Fisher led the legal efforts with respect to the transaction.
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O’Melveny & Myers LLP
O’Melveny & Myers LLP
The following release was issued by Otto:
Our Next Chapter: Otto Joins Uber
When we founded Otto, we committed to rethinking transportation. Today we are taking a leap forward by joining the Uber team to deliver on that promise.
Together with Uber, we will create the future of commercial transportation: first, self-driving trucks that provide drivers unprecedented levels of safety; and second, a platform that matches truck drivers with the right load wherever they are.
At Otto, we believe that drivers shouldn’t have to choose between safety and earnings. Our self-driving trucks will allow drivers to rest while their truck is moving, and our platform will ensure drivers can easily find loads and are paid fairly.
By combining these two technologies, we can create a freight network that is constantly learning and improving. Each truck that joins the network can provide valuable information that makes all other trucks safer and more efficient. In turn, drivers get paid more and shippers get a more reliable service. Self-driving trucks together with a marketplace create a virtuous cycle where everyone benefits.
Today, drivers don’t have it so easy. Truck drivers experience some of the most grueling job conditions out there: about one in three are involved in a serious road accident at some point in their careers, and more than two in three are at risk of a serious medical condition. It’s no surprise that trucking companies see over 90% of their drivers quit every year in search of better opportunities. It’s our mission to provide a path to sustainable commercial transportation.
By joining forces with Uber we can fast forward to the future. Together, Otto and Uber can build the backbone of the rapidly-approaching self-driving freight system. We can help make transportation as reliable as running water, everywhere for everyone, whether you’re talking people or packages.
If you are excited about our vision, please come and join Otto. And if you are a truck driver or a shipper, sign up here or download our app to be the first to use our technology.