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. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. The Frontline Responders Fund raised over $8 million and used it to engage in direct relief efforts including delivering more than 54 million units of masks, food supplies, medical supplies and medical equipment like oxygen concentrators across five continents. Petersens phone lit up with calls from policymakers like Gavin Newsom. Learn more. The expanded team will work on building the core product, and improve the tracking system and add more automation to the platform. Bootstrapped and profitable within a couple years, ImportGenius.com still generates millions in cash to this day. Sign upfor our weekly, original newsletter that goes beyond the annual Disruptor 50 list, offering a closer look at list-making companies and their innovative founders. 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. The company is a global freight forwarder and modern logistics platform whose goal is to fix and improve user experience in global trade. The company was founded in 2013 by Ryan Petersen and is based in San Francisco, California. Get the full list, Youre viewing 5 of 132 investors. But as one of the fastest-growing players in a space called digital freight forwarding, Petersens eight-year-old company is already. 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. Privately held Flexport is one of the most valuable logistics startups after raising more than $2 billion in funding. Ready for some unsettling news? Flexport's latest funding round was a Line of Credit for $200M on October 20, 2022. They utilize Flexports proprietary modern technology system to help them route supplies to wherever they are most needed in the world. Much damage had already been done. He quickly stood out. Flexport was founded to modernize and fix the freight industry. But with the source of that money coming from customers paying through the nose and still facing shipping delays, Petersen wasnt celebrating. The Flexport Platform is your supply chain source of truth. While there are risks for the company, overall the freight forwarding industry globally is experiencing increased demand. Petersens thread was quickly retweeted more than 15,000 times, including by Coinbase billionaire CEO Brian Armstrong. Regulators: Flexport applies for and maintains licensure through regulatory bodies. Founder Ryan Petersen has positioned himself as shipping's savior, earning Flexport a new $8 billion valuation. That work helped inspire the brothers next business, a search engine of global shipping manifests they built with Davids college roommate while Ryan was attending Columbia Business School. With a seemingly massive market opportunity and an obvious passion for what seemed a sleepy category, Flexport quickly raised $4 million from a gaggle of name-brand firms. Additional information about your broker can be found by clicking here. How? They have adapted and grown through the pandemic. After Cloud Paper onboarded with Flexport, they saw a 600% sales increase in two weeks, decreased container fees by 13%, and doubled their carbon offsets. Flexport's most recent revenue is from 2017. Subscribe. Prior to starting Flexport, Petersen founded and led a data-as-service company supporting global shipping for businesses called ImportGenius.com with his brother. Flexport's valuation in February 2022 was $7,065 - $8,000M. I never want to sell the business. One of the benefits of an IPO; however, is a large infusion of capital that can fund expansion of services, infrastructure or both. Flexport is the platform for global logisticsempowering buyers, sellers and their logistics partners with the technology and services to grow and innovate. Flexport has a post-money valuation in the range of $1B to $10B as of Feb 7, 2022, according to PrivCo. Julie Pierce Onos is a Massachusetts-based writer and Organization Development expert. Its software platform makes it easy for its clients to engage in trade globally. Our presentation of non -GAAP financial measures may not be comparable to similar measures used by other companies. Forward-Looking Statements of Pfizer Inc. Poskus predicts this will continue for at least the next two quarters and industry analysts agree. He let go of 50 staffers, about 3% of Flexports workforce. Ultimately Flexport sued WGA and ended the contract. 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. See Jiko U.S. Treasuries Risk Disclosures for further details. See JSIs FINRA BrokerCheck and Form CRS for further information. As an investor, you are normally granted access to company-wide performance data such as sales, revenue, profit or loss statements, and so forth. Customizable reporting and analytics let you find advantages and plan to expand. The company was founded in 2013 by Ryan Petersen and is based in San Francisco, California. Sales reached $3.3 billion in 2021, up from $1.3 billion in 2020 and $670 million the year before (Flexport passes about 80% of its revenue directly to its shipping partners). For most everyone else in the logistics business, it was exasperating. Conversely it tooks days before they heard from competitors if at all. Pickup Trucks: With lines of semis now a familiar sight at major hubs, like these at the Port of Oakland, every minute counts. : Why do you exist? When? Check the background of this firm on FINRAs BrokerCheck. For Petersen, the ground shifted fast. People [were] just finding us on the internet [and] signing up for the service." Finally, to raise funds, Petersen's main philosophy was giving off the impression that Flexport would succeed whether or not the investors decided to . 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. It now does much more, helping customers like Georgia-Pacific (Brawny paper towels, Angel Soft toilet paper), plumbing fixtures maker Gerber and speaker maker Sonos handle all the headaches of shipping inventory from factory to warehouse to store. Number of Past Jobs 1. With logistics partners in more than 80 countries, companies of any size can transport goods to and from more places with greater ease and agility. Demand is at a record highglobal trade volumes rose 8.3% in 2021, according to Allianz subsidiary Euler Hermes. With quick uplift to speed delivery, urgent shipments lift sales. Its freight service includes an online dashboard for businesses to easily understand, purchase, manage, and track the services required for global trade. Third-party logistics, of which freight forwarding is a big part, amounts to nearly $1 trillion. As it navigates all of these different regulatory bodies, there is the risk that they will struggle to maintain compliance as the complexity of the business increases. Which industries has this organization most actively invested in? 2023 PitchBook. There is a possibility of loss. The following slide deck was published by International Paper Company in conjunction with their 2023 Q1 earnings call . Insure all of your cargo or cover it by the shipment. Title At Company . It is a licensed customs brokerage and freight forwarder built around a modern web application. Exce, To view Flexports complete valuation and funding history, request access, Youre viewing 5 of 34 competitors. The Series E round was led by Andreessen Horowitz and MSD Partners, with participation from Shopify and existing investors Softbank, DST Global and Founders Fund. You're more than your latest funding, tell our customers your company's story. Covering venture capital, cloud and startups. More impressively, Flexport nearly doubled its revenue from 2020 to 2021, bringing in $3.2 billion. Shippeo develops a multimodal transportation visibility platform. Flexport is currently testing a new freemium service it will launch this year, one that provides free visibility, carbon tracking and messaging to users even if they dont run freight with Flexport. Take care of your company, so you can take care of your customers, even in times of rapid change. It expects revenue of close to $5 billion this year. On the ocean side, weve always spent a lot of time on allocation management, and predicting and booking reliably with the carrier. Win whats next. Flexport moved $19B in gross merchandise value in 2021 for clients across 112 countries. When the virus reached Flexports backyard, it scrounged up tens of thousands more to reroute to local hospitals. Zencargo is a digital freight forwarder and logistics provider. Edit Post-Money Valuation Data by PrivCo Section. Treasuries. Fractional shares are illiquid outside of Public and not transferable. Market and economic views are subject to change without notice and may be untimely when presented here. Flexport was awarded sixth place in FreightWave's 2020 FreightTech 25 competition in November. The platform provides access to delivery tracking, automates customer processes, and estimated- time of arrival (ETA) accuracy with the help of its proprietary machine learning algorithm. Nominations are officially closed. The company was founded in 2015 and is based in Boston, Massachusetts. The day after his chartered boat tour of the Long Beach harbor, Petersen shared his findings on Twitter. Flexport is a full-service global freight forwarder and logistics platform using modern software to fix the user experience in global trade. Flexport raised $935 million led by venture capital firms Andreessen Horowitz and MSD Partners earlier this year at a valuation of $8 billion. The above content provided and paid for by Public and is for general informational purposes only. 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. Flexport's valuation in February 2022 was $7,065 - $8,000M. 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 Having already spent the first of SoftBanks $500 million, he realized he needed to shift course. JPMorgan has released a presentation for investors with more detail about its deal to buy the bulk of failed lender First Republic. Via its impact arm, Flexport.org, the company supports mission-focused and ecological sustainability work. : When should you execute tasks that satisfy customer needs? Flexports revenue run rate has shown consistent growth from approximately $30 million in 2014 to $1.7 billion in 2020. Delivering humanitarian aid from Point A to Point B isnt as easy as, well, getting from Point A to Point B. Correction: This story has been updated to reflect the correct percentage of third-party logistics compared to U.S. gross domestic product, and to clarify a Flexport customer. 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. Flexport is combing through customer data trying to fill each precious container more completely (most ship only 70% full). JSI and Jiko Bank are not affiliated with Public Holdings, Inc. (Public) or any of its subsidiaries. Which industries has this organization had the most exits in? 2023 Forbes Media LLC. Customer Relationship Summary, Open to the Public Investings Fee Schedule. In the US alone, Flexport has to deal with 43 different trade regulators. Leading the charge in pursuit of new ways to drive growth and strategy is, typically, the chief financial officer (CFO). Flexport is raising $935 million in a series E round. Once you sell your business, youre just another rich guy. In addition, it has . : Where does your team feel a sense of belonging and inclusivity? In January 2019, Petersen sat down to close a deal with Masayoshi Son; 45 minutes later, he walked away with a $1 billion commitment. Flexport manages the shipping of 25 products from a factory in China to two hubs in California and Kentucky and offsets their carbon footprint. In 2018 they were recognized on the following lists: In 2019 they were recognized on the following lists: Flexports guiding principles have been consistently employed from the beginning. 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. Digitization in the freight industry has been under way for years, with capital flooding into freight forwarders like Flexport, but the expense of upgrading legacy databases with digital tracking systems has slowed the transition. Only Flexport delivers deep visibility and control, low and predictable supply chain costs, and faster and more reliable transit times. Customers choose Flexport not because Petersen reinvented the wheel but because its one-stop software suite simplifies their lives. Crypto. The value of T-bills fluctuate and investors may receive more or less than their original investments if sold prior to maturity. He created his own list of six questions to help him stay on track: Two other guiding characteristics are discipline and accountability. 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. Flexport can utilize that data to determine whether it should invest in building out a new product line, enter a new customer vertical, or even just outright acquire the firm it invests in. In fact, in April 2020, CEO Petersen was quoted in a TechCrunch article as saying, Im just having fun. Its team of logistics experts lets focus on core business by ensuring goods arrive at fulfillment/distribution centers on time and at the lowest cost. No minimum hold periods. For years, Petersen had tinkered with another idea, a TurboTax for customs paperwork, but he needed to clear a rigorous background check (smuggling is one concern) to move goods across the U.S. border. Supply chain operations and the freight forwarding process are not the first parts of the organization executives think of when they are looking to optimize to drive transformation and growth. Access the latest trends, expert commentary, and indicators for unique insights into the global economy. Flexport said Monday it raised $935 million in a Series E funding round that values the freight forwarding company at $8 billion nearly triple its last reported valuation in 2019, according to. If we can fix problems for Flexport, we can fix problems for the wider world, he says. Flexport owns no trains, planes or ships of its own. Who? Flexports goals go beyond having the lowest price; they want to provide the best software and systems to help clients book, track and pay for shipments. Flexport's latest post-money valuation is from February 2022. Collison was curious how the backup at Californias ports compared to mysterious bottlenecks in his world of online payments. Reporters looking for a wider trend among SoftBank companies pounced. Flexport, a provider of technology-forward freight services, has raised . : What metrics do you use to measure success and maintain focus? Nov 2 (Reuters) - 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. The company was founded in 2014 and is based in Paris, France. 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. Flexport revenue is $471.0M annually. Its death by 1,000 cuts.. Learn how were making Public available in even more places. Prior to founding Flexport, Schneberg had transportation and logistics experience and was the Founder and leader of the Next Generation Think Tank. SaaS, Android, Cloud Computing, Medical Device), Where the organization is headquartered (e.g. So when Thiel announced his public support for Donald Trump, who was championing big new China tariffs during his presidential campaign, Petersen committed a startup sin. our sites and services. Put your cash to work with a high-yield Treasuries account. Flexport currently has four leading investors: Founders Fund of San Francisco, CA; Softbank Vision Fund of London, England; DST Global of Hong Kong Island, Hong Kong; and SF Express of Jilin, China. As recently as 2020, Flexport did not seem to be exploring an IPO. T-bills are subject to price change and availability - yield is subject to change. Petersen is used to the sniping by now. This story appears in the February/March 2022 issue of Forbes Magazine. Attention Shopify merchants: Get an instant estimate with no commitment to book using our Flexport App in Shopify today! He appears sometimes uninformed, says Robert Khachatryan, who founded the 55-person freight forwarder Freight Right Global Logistics in greater Los Angeles in 2007. Flexport raises $935 million to boost resilience and visibility in global supply chains. Investors need to know that all ventures have risks if they decide to go public shortly. Two major ones are regulators and vendors. Petersen explained, "The earliest customers for Flexport we got via Google Adwords, SCO, and sign-ups. If the UK leaves the EU without a trade deal in place, the UK loses access to the European single market with its free movement of goods. 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. To hear him tell it, Maersk and its peers own the containers; theyll want to own the data too, not give it up to Petersen.
13 mai 2023