Developer of a freight forwarding platform designed to provide visibility and control over the entire supply chain. Order Management delivers orders to suppliers, who book shipments across a global logistics networkright in the Flexport Platform. Kohlberg Kravis Roberts and Hedonova are the most recent investors. Discover how we're making the markets work for all investors. Track cargoeven if other partners handle it. Thats just the reality of being a new company in such a big, complicated business, says Ben Braverman, a longtime Flexport executive and Petersen confidant. Customizable reporting and analytics let you find advantages and plan to expand. By continuing to use this site you are consenting to these choices. But as one of the fastest-growing players in a space called digital freight forwarding, Petersens eight-year-old company is already. It now has offices in 23 countries and is nearing 3,000 employees. The expanded team will work on building the core product, and improve the tracking system and add more automation to the platform. Onboard suppliers. According to the website, the Flexport vision includes building the first Operating System for Global Trade, a strategic operating model that combines technology and analytics, logistics infrastructure, and hands-on supply chain expertise. Better Tomorrow Ventures, Endeavor ScaleUp Growth, Fin Capital, Flexport, and Pareto Ventures, Cox Enterprises, Flexport, Fundrise, Kapor Capital, Lincoln Property Company, Overline VC, Pendulum, Playground Global, Wilshire Lane Capital, and XYZ Ventures, Bay Grove Capital, Flash Ventures, Flexport, Foundamental, Jungle Ventures, King River Capital, and Maersk Growth. Freight startup Flexport soars from 'unsexy' to $800M valuation Turns out Full Container Load shipping (FCL) isnt really full. But truthfully, Flexport competes with multiple freight forwarding companies that exist in online marketplaces that focus on winning the price war. Flexport's deal structure is available for 6 funding rounds, including their Series E - II from February 07, 2022. But three days after the second half of the money was wired, SoftBank-backed WeWork released its ill-fated public offering prospectus. 41on last year'sCNBC Disruptor 50list, has raised $2.2 billion to date. Its freight service includes an online dashboard for businesses to easily understand, purchase, manage, and track the services required for global trade. Past performance is not indicative of future performance. Supply chain agility can help support core business values, like sustainability. Petersen also plans to build out a fulfillment product that can identify high-priority goodssay, for direct-to-consumer brandsand ship them faster through a virtual HOV lane., Flexport is the definitive next-gen winner in the space, full stop, says David George, a growth-stage investor who co-led Flexports latest round on behalf of Andreessen Horowitz. Flexport revenue, valuation & growth rate | Sacra You're more than your latest funding, tell our customers your company's story. Flexport, one of the most valuable logistics startups, is looking to add about 400 engineers to double its technical team by next year, a top company executive told Reuters. But as Flexports revenue doubled past $200 million, then $400 million, and Petersen kept spending to launch offices in ports from Hamburg to Shenzhen, he caught the eye of the worlds leading expert on brute-forcing ones way to dominant market share: SoftBank. Prior to founding Flexport, Schneberg had transportation and logistics experience and was the Founder and leader of the Next Generation Think Tank. Flexport has 29 investors. Petersens phone lit up with calls from policymakers like Gavin Newsom. Their latest investment was in Portao3 as part of their Seed VC on January 1, 2023. Clark said the tech openings, from entry-level to experienced ones, will be across the U.S. with a focus on Bellevue, Washington, a tech town that houses Amazon and Microsoft. Nominations are officially closed. Who? But the duo had bigger ambitions. Flexport Freight Forwarding Layoffs logistics personnel moves Softbank talent Startups Daily Crunch: Silicon Valley Bank goes bust regulators take control of $175B+ in deposits Haje Jan Kamps. Invest in baskets of securities in a single trade. Analyst Briefing Submitters are 7x more likely to receive a qualified connection. 41 in 2021). Layoffs hit Flexport, another SoftBank-backed startup worth $3.2B - Yahoo! Venture Capital-Backed Primary Industry Business/Productivity Software Other Industries Logistics Primary Office 760 Market Street 8th Floor San Francisco, CA 94102 United States +1 (415) 000-0000 Flexport Timeline 2020 2021 2022 2023 Financing Round Captured Employee Count Estimated Employee Growth Want detailed data on 3M+ companies? Data is a real-time snapshot *Data is delayed at least 15 minutes. Nor have they officially released any statement indicating they are exploring one. : When should you execute tasks that satisfy customer needs? Past performance is no guarantee of future results. Flexport Company Profile: Valuation & Investors | PitchBook Flexport raises $935 million to boost resilience and visibility in global supply chains. It is assuming $122 billion in . So let's look at some potential difficulties investors may face if a Flexport IPO date occurs. Investments in T-bills: Not FDIC Insured; No Bank Guarantee; May Lose Value. More impressively, Flexport nearly doubled its revenue from 2020 to 2021, bringing in $3.2 billion. Via its impact arm, Flexport.org, the company supports mission-focused and ecological sustainability work. Prior to starting Flexport, Petersen founded and led a data-as-service company supporting global shipping for businesses called ImportGenius.com with his brother. It primarily caters to the automotive, building materials, consumer goods, food and beverage, manufacturing, oil, gas, and chemicals, and retail industries. This transcript may contain forward-looking statements about, among other things, our anticipated operating and financial performance, business plans and prospects; expectations for our product pipeline, in-line products and product candidates, including anticipated regulatory submissions, data read-outs, study starts, approvals, post-approval clinical . It tracks shipments for shippers and logistics service providers helping them leverage transportation to deliver better customer service. By 2018, Flexport added additional vertical integrations by adding freight financing, chartering its own planes, and operating its own warehouses. Flexport founder and CEO Ryan Petersen Now the company has over 400 employees in seven offices. When the virus reached Flexports backyard, it scrounged up tens of thousands more to reroute to local hospitals. Global logistics platform Flexport announced Monday it is looking to close a $935 million series E investment round by the end of the first quarter that will value the company at over $8 billion. Flexports biggest competitors are: Telenet Global Logistics, a private travel and leisure company; Bremer Lagerhaus, a publicly traded travel and leisure company; Global Tranz, a travel and leisure company that is a subsidiary of another company; and Echo Global Logistics, a publicly traded tech company. No minimum hold periods. Additional information can be found here. Kevin Kwok has had 1 past job as the Summer Venture Analyst at IA Ventures. In 2018, China represented 75.2% of U.S. seaborne imports linked to Flexport, while in 2019 that had fallen to 62.8% before declining to 47.8% in the first quarter. Why? Now, they extend the same visibility to their own customers. 2023 PitchBook. Build and diversify your portfolio with all the major crypto. Duis aute irure do, prehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. And when the backup of ships waiting to unload at major ports reached a breaking point last fall, it was Petersen who showed up at the Port of Long Beach in California to charter a boat and tweet what he saw, prompting a viral response including a call from Governor Gavin Newsom and an overnight policy change to stack containers higher in local yards. You can read more about your cookie choices at our privacy policyhere. Treasuries. No 21-year-old in college is lying awake at night saying, I need to build the next Flexport.. Flexport is combing through customer data trying to fill each precious container more completely (most ship only 70% full). Poskus predicts this will continue for at least the next two quarters and industry analysts agree. Analysts are unclear as to whether the only path towards continuing its successful growth would be an IPO for Flexport. No settlement delays. Active, Closed, Last funding round type (e.g. Ninja Delivery is an e-commerce website that provides delivery for foods, drinks, and household items. Any container ship on the West Coast, I guarantee we are on there.. The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution. Flexport raised $935 million led by venture capital firms Andreessen Horowitz and MSD Partners earlier this year at a valuation of $8 billion. Why you should check Bupa, HCF and others, You could be overspending on your health insurance, 25 Cheap Dividend Stocks With Safe Yields for 2023. Investments in T-bills involve a variety of risks, including credit risk, interest rate risk, and liquidity risk. Ryan preferred studying abroad in Spain and volunteering in El Salvador. Flexport's valuation in February 2022 was $7,065 - $8,000M. Their latest funding was raised on Oct 20, 2022 from a Debt Financing round. The starting goal of Flexport was to fix the user experience in global trade. Our industry thinks Im a clown, which I dont mind, he says. The above content provided and paid for by Public and is for general informational purposes only. Flexport has not yet filed for an IPO. Flexport rolled out Platform 2.0, new services in 2019 A single dashboard speeds workflows and surfaces insights. I wish I could look inside with a HoloLens to see which containers are Flexports, he says, imagining that Microsofts augmented-reality glasses had an X-ray feature. Clark, former consumer chief at Amazon and now co-chief executive at Flexport, said the firm is taking advantage of its strong balance sheet and the less competitive job market for tech talents. Far, far from it. The company was founded in 2014 and is based in Paris, France. FedEx teams up with Microsoft to tackle Amazon, Flexport threats Flexport Flexport Raises $935 Million in New Funding Round for Tech - WSJ Flexport International, LLC considers itself 'the OS of global trade'. Funding Round . Flexport Raises $935 Million to Boost Resilience and Visibility in Flexport has made 33 investments. Trusted data backs every move. For Flexport, there are 43 regulators in just the US who take an interest in imported products, and there are additional ones across the globe. An indication of interest to purchase securities involves no obligation or commitment of any kind. Petersen realized he didnt really know. October 2019 acquired Crux Systems for an undisclosed amount. He quickly stood out. How many investments has this organization made over time? Listen to our daily live shows on the latest market news. They have raised a total of $1.3 billion from many investors including Softbank, Founders Fund, DST Global, Cherubic Ventures, Susa Ventures and SF Expresslead. Customers choose Flexport not because Petersen reinvented the wheel but because its one-stop software suite simplifies their lives. Regulators: Flexport applies for and maintains licensure through regulatory bodies. A Division of NBCUniversal. By that point, it was clear to Petersen that while Flexport was growing fast, the logistics market wasnt one where a hard-charging newcomer could sweep the board. We want to hear from you. Its latest funding round was led by Andreessen Horowitz and Michael Dell's MSD Partners, and includes a strategic investment from Shopify. Ergobaby stays in control, while operations keep improving. The damage control worked. What You Need To Know About Flexport Stock - Just Start Investing Apex Clearing Corporation, our clearing firm, has additional insurance coverage in excess of the regular SIPC limits. Flexport has more than 10,000 clients and suppliers in 112 countries and doubled its revenue last year, bringing in $3.2 billion while reporting its first EBIT positive year. Gruzobzor offers a cloud-based service targeted at the transportation industry to enable carriers, shippers and freight forwarders to share electronic documents and communicate in real-time, therefore increasing efficiency when transporting goods B2B. Flexport owns no trains, planes or ships of its own. The Office of the United States Trade Representative (USTR) announced the procedure by which companies can request exemptions from the additional 25 percent tariffs placed on List 3 goods imported from China under section 301 of the Trade Act of 1974. On Deck Partners with Flexport to Invest in the Future of Logistics We do not endorse any third parties referenced within the article. So he went to work for David, buying trinkets from China to resell, such as gag drivers licenses made out to Elvis Presley. After flipping a container of scooters for a profit on eBay, they moved upmarket to motorsports bikes and parts. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Cryptocurrencies are not securities and are not FDIC or SIPC insured. Flexport must deal with more than 43 separate trade regulations in the United States alone. Get help and support from our award-winning team. Employees: Flexport aims to create a win-win situation for employees. Brokerage services for US-listed, registered securities are offered to self-directed customers by Open to the Public Investing, Inc. (Open to the Public Investing), a registered broker-dealer and member of FINRA & SIPC. Flexport Revenue: Annual, Quarterly, and Historic - Zippia Number of Past Jobs 1. For Flexport, it all means business is booming. The San Francisco-based company,ranked No. Flexport Stock Price, Funding, Valuation, Revenue & Financial Statements Petersen remains as CEO and Schneberg is now the founder and leader of Flexports impact arm, Flexport.org. Flexport states they have a market advantage in terms of their capacity to manage and understand the data, in allocation management, and their prediction and booking ability. Explore 9,000+ stocks with company-specific analysis. According to Crunchbase, Flexport has raised a total of $1.3 billion in 4 rounds of funding. For Petersen, the ground shifted fast. Book logistics. Flexports Revenue Run Rate has shown consistent growth from approximately $30 million in 2014 to $1.7 billion in 2020. Flexport is raising $935 million in a series E round. Forbes estimates Petersens 9% stake in Flexport is worth $650 million, after our standard 10% private-company discount. For most everyone else in the logistics business, it was exasperating. Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. Flexport's mission is to fix the user experience in global trade and bring the world free trade through technology. Walk into the offices of Flexport and Expeditors, a 40-year-old publicly traded freight forwarder with a market cap of about $19 billion, then strip away all the corporate logos and branding, and youd see that the operations look exactly the same, they claim. It is a licensed customs brokerage and freight forwarder built around a modern web application. Flexport owns no trains, planes or ships of its own. In February, it raised $935 million in a Series E funding round that values it at $8 billion nearly triple its last reported valuation in 2019, according to PitchBook data. It offers shipping, logistics, and carrier solutions for consumer goods, food and beverages, retail, manufacturing, life sciences, and other industries. This has happened in the past when they had a four year contract with Western Global Airlines that was beset with multiple mechanical failures and repair delays. We encourage investors to carefully consider our results under GAAP, as well as our supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand our business. The basis of this belief is that if you dont prioritize your customers, your business will not be sustainable. Shipments from Asia ex-China have climbed from 13.7% in 2018 to 27.3% in 2019 and 39.0% in the first quarter. Check the background of this firm on FINRAs BrokerCheck. Shipping is a huge pond. Reddit cofounder Alexis Ohanian, then a YC partner, invested alongside Forbes Midas List star Garry Tan. Its what the public wanted to see.. But no one can dispute Petersens efficacy. Flexport Inc. is an American multinational corporation that focuses on supply chain management and logistics, including order management, trade financing, insurance, freight forwarding and customs brokerage. The turmoil was good for Flexportit won business simply by reliably showing up. Others question whether itll be Flexport that will win. The hiring spree, spearheaded by Dave Clark who joined Flexport in September after two decades at Amazon.com, comes at a time when many big tech companies and venture capital-backed startups are either freezing hiring or laying off employees amid economic uncertainty. Another challenge is Flexport uses other companys transportation modes such as planes, trucks and ships. For a complete explanation of conditions, restrictions and limitations associated with fractional shares, see our Fractional Share Disclosure to learn more. Orkestra Supply Chain Solutions (SCS) is a logistics and technology company that removes complexity through an intelligent platform and experienced people. What you need to know about a 2021 Flexport IPO, Open to the Public Investing, Inc. Flexport's latest funding round was a Line of Credit for $200M on October 20, 2022. Nowports competitors are Nuvocargo, Moova, DSV, and Flexport. : What metrics do you use to measure success and maintain focus? One challenger with momentum is Chicago-based project44, a pure logistics data play which raised $420 million in January at a $2.6 billion valuation. Flexports aggressive fundraisingit has secured more than $2 billion to datemeant dilution for Petersen personally, who today owns just 9% of his company despite having no cofounders. Petersen moved to China in 2005 for two years to source the product firsthand. Get the full list, Youre viewing 5 of 7 board members. Delivering humanitarian aid from Point A to Point B isnt as easy as, well, getting from Point A to Point B. PDF Berkeley Leadership Case Series Flexport's most recent revenue is from 2017. Flexport. The following slide deck was published by International Paper Company in conjunction with their 2023 Q1 earnings call . Flexport is a full-service global freight forwarder and logistics platform using modern software to fix the user experience in global trade. WeWorks larger-than-life cofounder Adam Neumann was out in matter of weeks. Open to Public Investing is a wholly-owned subsidiary of Public Holdings, Inc. (Public Holdings). Access capital for logistics costs and focus on opportunity. Petersen had launched the project of which hes proudest, the nonprofit arm Flexport.org, back in 2017 to provide discounted freight to nongovernmental organizations and help nonprofits ship donated inventory. These investments are speculative, involve substantial risks (including illiquidity and loss of principal), and are not FDIC or SIPC insured. The start-up was Flexport, and its founder is Ryan Petersen, then an importer of Chinese motorbikes who, frustrated by the complexities of the logistics process, was on a mission to make global trade easy for everyone. It was such a valuable industry and so very undesirable for product builders, Ohanian says. Petersen was accepted into YCs 2014 batch as one of the last founders under Grahams direct mentorship. Flexport Platform Manage your supply chain Order Management Collaborate on orders Customs Clear goods, gain insights Climate Offset carbon emissions Transportation Ocean Freight Ship in a few clicks Air Freight Fly for faster arrivals Less than Container Ship any volume Trucking Go intermodal or direct Shopify Shipping In addition, 2021 was the company's first positive year in earnings before interest and taxes (EBIT). Organization Name . How? Their most recent valuation was $3.2 billion. Petersen suddenly needed to deliver Silicon Valleystyle hypergrowth. For growth to stick, inventory needs to align tightly with demand. To view the presentation, or for more information about the 2023 Annual Meeting, please visit: www.VoteforPitneyBowes.com.Shareholders who have any questions or need assistance voting may contact . The company reported consistent growth from around $30 million in 2014 to $1.7 billion in 2020. There are six layers to how he evaluates whether he is successfully prioritizing and meeting clients needs: Petersen is proud of Flexports company culture and has worked hard to keep that culture intact even as it grows to keep pace with demand. CNBC's 11th annual Disruptor 50 list will be revealed on-air and online this May. (Reporting by Krystal Hu in New York; Editing by Leslie Adler), Over 40? When theres a lot of overcapacity, its not an issue. For Flexport, it was a marketing masterstroke, though Petersen swears that wasnt his intent. Stocks and ETFs. Petersens bolder proposals, such as the creation of a government-sponsored railhead depot, remain untouched. Exclusive interview: Former Amazon consumer chief Dave Clark has a new job: co-CEO, and eventually sole CEO, of $8 billion-valued supply chain software startup Flexport. And Millions For Food Allergies, New September Tariffs: 3 Critical Things To Know For Your Supply Chain Now, Lets Send Help: Fixing Shipping And Logistics For Humanitarian Aid, New Hurdles Arise As Manufacturing Looks To Vietnam During U.S.-China Trade War, New Tariff Exclusion Request Procedure Announced As Impact Of Trade Restrictions Begins To Show, Avoiding Collateral Damage From Trade War Uncertainty, 7 Steps To Optimize The Freight Forwarding Process For Financial Advantage, Drive Supply Chain Visibility And Business Growth Through Digital Transformation, 4 Ways Modern Freight Forwarding Reins In Logistics Management, The Deal (Or No Deal) With Brexit: How You Can Plan For Impact On Your Supply Chain, China Antidumping Duties: Know Before You Owe, Getting A Grip On The Chaos Of Global Trade, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. LPL Financial Member FINRA/SIPC 3 Notice to Investors: Non-GAAP Financial Measures Management believes that presenting certain non- GAAP financial measures by excluding or including certain items can be helpful t o investors and analysts who may wish to use this information to analyze the Its pretty common to book 130% and you cancel 30%, so its very hard for carriers to manage. And we think this is the exact great opportunity for us to go out and start hiring and give people an opportunity to do a reset in their career," said Clark. As most in the freight forwarding and global trade business know, logistics managers are front and center on the frontline, responsible for making sure supply chains run smoothly. Forward-Looking Statements of Pfizer Inc. Privately held Flexport is one of the most valuable logistics startups after raising more than $2 billion in funding. This week, we're checking in with Flexport CEO Ryan Petersen about shipping's meme moment in the Suez, looking into a new venture fund in Oklahoma, mapping ServiceTitan's valuation journey, and diving into food allergies getting investor dollars. Founder and CEO Ryan Petersen started Flexport in 2013 because he figured there had to be a better way to manage the flow of goods that get put on cargo ships, planes, trucks and railroads and transported all over the world. Which types of acquisition does this organization make most frequently. Sign up for free newsletters and get more CNBC delivered to your inbox. But industry rivals say the 41-year-old near-billionaire and his startup are all show. Flexport - Wikipedia When you enable T-Bill investing on the Public platform, you open a separate brokerage account with JSI (the "Treasury Account"). Diversity Spotlight (US Headquarters Only), Total amount raised across all funding rounds, Total number of lead investment firms and individual investors, Total number of investment firms and individual investors, Total number of diversity investments made by an investor. It also rolled out a number of new services and locations and raised $1 billion from an investor group led by Softbank Vision Fund. CB Insights Intelligence Analysts have mentioned Flexport in 14 CB Insights research briefs, most recently on Nov 10, 2022. Flexport IPO: The Latest Updates on Flexport Stock Petersen agrees: I call our sales process like playing Battleship. The chartered planes stopped. And those in charge of managing freight forwarding might soon find that Dylans line no longer applies. According to the WTO, over 80% of global trade utilizes freight financing so this was an important addition for the company. With fresh. Get the full list, To view Flexports complete subsidiaries history, request access, To view Flexports complete exits history, request access, Morningstar Institutional Equity Research, Freight-forwarder monitoring and management systems and methods, System and methods for accurate price quoting and generation, Cargo management system and methods of managing cargo, Methods and systems for generating a digital shipping plan, Co-Founder, Co-Chief Executive Officer & Board Member, President of Flexport Ocean and Air & Chief Strategy Officer, Co-Chief Executive Officer & Board Member. T-bills are purchased at a discount to the par value and the T-bills yield represents the difference in price between the par value and the discount price. Aggregate funds in your Treasury Account in excess of the T-bill purchases will remain in your Treasury Account as cash. Get the full list, Youre viewing 5 of 66 investments and acquisitions. The platform arranges goods to be transported and tracks the inventory in real-time in orders carried by the ocean, air, and road freight, enabling logistics companies to optimize transportation routes and inventory management. Third-party logistics, of which freight forwarding is a big part, amounts to nearly $1 trillion. No surprise, then, that powerful investors keep piling in. Digital freight network Convoy hits $3.8B valuation. Flexport is the end-to-end platform for global trade, Dodge Shipping Delays as Much As Possible, Balance Speed and Cost with Your Modal Mix, FlexU: Learn About Supply Chain & Logistics, A Fresh Approach to Clear High Value Goods, Manage Inventory End to End with Flexport, Customs Broker RFP Process: Dos and Don'ts, Go Carbon Neutral in the Flexport Platform. The value of T-bills fluctuate and investors may receive more or less than their original investments if sold prior to maturity. Having already spent the first of SoftBanks $500 million, he realized he needed to shift course.

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