Lots of people would rather work with project44s Switzerland rather than a brash competitor like Flexport, CEO Jett McCandless argues. How? Investors: Flexport works to earn a return on investment for their investors. Forbes estimates Petersens 9% stake in Flexport is worth $650 million, after our standard 10% private-company discount. Flexport's latest post-money valuation is from February 2022. So let's look at some potential difficulties investors may face if a Flexport IPO date occurs. Empowering companies to connect with their retail investors. He notes the increase is due not just to increased current demand, but also by retailers re-stocking to be prepared for future demand. Their most recent valuation was $3.2 billion. And those in charge of managing freight forwarding might soon find that Dylans line no longer applies. 23, 2023 11:47 PM ET Tango Therapeutics, Inc. (TNGX) SA Transcripts. But when theres peak season, or an artificial peak as were seeing right now, suddenly allocation management becomes extremely important.. CBI websites generally use certain cookies to enable better interactions with our sites and services. The gate-crashing younger Petersen made a lasting impression on Paul Graham, the accelerators cofounder, who had an interest in global trade. Investments in T-bills involve a variety of risks, including credit risk, interest rate risk, and liquidity risk. Flexport is raising $935 million in a series E round. Nor have they officially released any statement indicating they are exploring one. The basis of this belief is that if you dont prioritize your customers, your business will not be sustainable. 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. For Flexport, it was a marketing masterstroke, though Petersen swears that wasnt his intent. PDF ServiceNow 1Q23 Investor Presentation PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. Edit Post-Money Valuation Data by PrivCo Section. 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. Flexport was founded to modernize and fix the freight industry. CNBC's Hugh Son joins 'Squawk Box' to report the latest on JPMorgan's acquisition of First Republic. Data is a real-time snapshot *Data is delayed at least 15 minutes. T-bills are subject to price change and availability - yield is subject to change. It is not intended to constitute investment advice or any other kind of professional advice and should not be relied upon as such. 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. But truthfully, Flexport competes with multiple freight forwarding companies that exist in online marketplaces that focus on winning the price war. Its death by 1,000 cuts.. Stocks and ETFs. The Flexport platform streamlines supply chain workflows enabling real-time communication and data-backed decision-making. Investments in T-bills: Not FDIC Insured; No Bank Guarantee; May Lose Value. 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. By 2018, Flexport added additional vertical integrations by adding freight financing, chartering its own planes, and operating its own warehouses. The notion that Petersen hasnt earned his stripes runs deeper than all the good press he gets. It depends how desperate we were. Soon he was on the phone with Thiel to explain himself. Molekule scales its stock by coordinating with suppliers in the Flexport Platform to ensure cargo-ready dates. It is a licensed customs brokerage and freight forwarder built around a modern web application. Regulators and vendors are two big ones. With fresh. If a vendor has poor performance or a disaster, this will affect Flexports ability to deliver on its promises to its own clients. Crane - Investors - Crane Holdings, Co. Fourth Quarter 2022 Earnings Call 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. An indication of interest to purchase securities involves no obligation or commitment of any kind. But industry rivals say the 41-year-old near-billionaire and his startup are all show. 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. Before taking action based on any such information, we encourage you to consult with the appropriate professionals. Flexport IPO: The Latest Updates on Flexport Stock An affiliate of Public may be testing the waters and considering making an offering of securities under Tier 2 of Regulation A. Petersen remains as CEO and Schneberg is now the founder and leader of Flexports impact arm, Flexport.org. Petersen was accepted into YCs 2014 batch as one of the last founders under Grahams direct mentorship. Within three years, Flexport had over 700 clients across 64 countries. Flexport's mission is to fix the user experience in global trade and bring the world free trade through technology. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. Petersen calls it his biggest mistake as a CEO so far. Collison was curious how the backup at Californias ports compared to mysterious bottlenecks in his world of online payments. Today they have 10,000 clients in 200 countries. Get the full list, To view Flexports complete patent history, request access, Youre viewing 5 of 43 executive team members. Regulators: Flexport applies for and maintains licensure through regulatory bodies. Flexport's latest post-money valuation is from February 2022. Pitney Bowes Files Investor Presentation for 2023 Annual Meeting CNBC's 11th annual Disruptor 50 list will be revealed on-air and online this May. For Flexport, it all means business is booming. In August 2018, they started Transmission LLC which provides ELD and GPS technology specific to managing a trucking fleet. "This investment signals that the market recognizes the need for a tech-enabled logistics ecosystem that has the visibility and resilience to handle unexpected challenges of any scale," Petersen said in announcing the deal. Flexport | Company Overview & News - Forbes 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. Heres the breakdown of financing over the years: Flexport reached unicorn status in 2019 with a $3.2 billion valuation. Automate your investment strategy with recurring investments. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower, Founder: Ryan Petersen (CEO)Launched:2013Headquarters:San FranciscoFunding: $2.2 billionValuation: $8 billionKey technologies: Cloud computingIndustry: LogisticsPrevious appearances on Disruptor 50 List: 2 (No. Flexport's deal structure is available for 6 funding rounds, including their Series E - II from February 07, 2022. Ready for some unsettling news? Petersen also hasnt been shy about building his public image. : Why do you exist? The hiring spree . This content is not investment advice. US Import Gain Means Flexport Sees No Recession for Some Months, Flexport founder Ryan Petersen reveals his secret for startup recruiting, Tech Moves: Former Expedia leader joins Peerspace; Flexport adds another Amazon exec, Supply Chain Management Companies With More Than $10M in Revenue. Tive provides real-time supply chain visibility insights to help logistics professionals manage their in-transit shipments' locations and conditions. Sign up for a free trial to see revenue data from 2021, 2018, 2017 and more. We do not endorse any third parties referenced within the article. Treasuries. The company reported consistent growth from around $30 million in 2014 to $1.7 billion in 2020. As technology finds its way into the industry, however, it is beginning to play a transformative role. Founder Ryan Petersen has positioned himself as shipping's savior, earning Flexport a new $8 billion valuation. Flexport is funded by 90 investors. It now has offices in 23 countries and is nearing 3,000 employees. Flexport Company Profile: Valuation & Investors | PitchBook 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. Learn more. Flexport owns no trains, planes or ships of its own. 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 . Global spending on logistics reached $9 trillion in 2020, about 11% of the worlds gross domestic product, according to consultancy Armstrong & Associates. The Vice President of Global Ocean at Flexport, Nerijus Poskus, was quoted in May 2021 by FreightWaves.com as saying the volume of global freight business is at 1.5 pre-pandemic levels. As a private company, many financial details are private; however the company states they are profitable. Flexport currently has over 3,200 employees across the world, and now has a hybrid work policy, requiring employees to work for two to three days in the office. As these new tariffs will affect even more shippers and just as we enter the critical peak shipping season we expect companies to try and get ahead of the September 1 deadline. The cuts were also ineffective, crushing employee morale for minimal savings. In 2020 at the Alcott Global Virtual Supply Chain Summit, Flexports COO Sanne Manders, said the reason they were able to capitalize on the trade wars and COVID-19 crises in 2020 was because they are a smaller organization built on modern technology and therefore they were able to quickly pivot. By the time Thiel and Founders Fund led a $20 million Series A investment in Petersen in 2015, Flexport was billing itself as a new-look digital freight forwarder. CBI websites generally use certain cookies to enable better interactions with. Start Date . 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. Forward-Looking Statements of Pfizer Inc. Flexport EPS of $0.53 beats by $0.06 | Revenue of $5.02B (-4.14% Y/Y) misses by $9.58M. Flexport revenue, valuation & growth rate | Sacra JPMorgan-First Republic Deal: Key Points From Buyer's Investor Presentation Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. 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? 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. Its freight service includes an online dashboard for businesses to easily understand, purchase, manage, and track the services required for global trade. An Oracle survey of 1,000 U.S. adults found that 87% reported being negatively affected by shipping struggles; half said theyd canceled an order in recent months. The following slide deck was published by Tango Therapeutics, Inc. in conjunction with this . This is not an offer, solicitation of an offer, or advice to buy or sell securities or open a brokerage account in any jurisdiction where Open to the Public Investing is not registered. You have a purpose. With tools to help optimize your modal mix and visibility down to the SKU, you can count on more predictable logistics. End Date One vocal critic frequently refers to Petersen in dismissive LinkedIn posts as Private Ryan. [Flexport has] made a lot of enemies in the space, says a veteran industry exec who didnt want to be named for fear of losing business with Petersen. Customers choose Flexport not because Petersen reinvented the wheel but because its one-stop software suite simplifies their lives. . Via its impact arm, Flexport.org, the company supports mission-focused and ecological sustainability work. She loves the stories that numbers tell us about business, relationships and health. tracked annually for greater shipment visibility. Apr. Investing in Flexport | Andreessen Horowitz