Uber reportedly selling its auto leasing business to startup Fair.com
Uber announced it was shutting down its auto-leasing business Xchange Leasing in September, and now it’s being bought by startup auto leasing company Fair.com, according to a Wall Street Journal report.
The report says that Fair.com, which offers alternative leases where you can keep a car as long as you like, will buy Xchange Leasing for an undisclosed amount. Uber is not selling the company outright, though. It will take a stake in Fair and offer access to Fair’s website through the Uber app. Fair will offer jobs to about 150 workers in return.
The move is not a surprise as a spokesperson for Uber told The Verge in September that “We have decided to stop operating Xchange Leasing and move towards a less capital-intensive approach.”…
