It's a struggle for 'digital' forwarders, with 'poster boy' Flexport losing value
The proposed sale of ‘digital’ forwarder Forto, as well as EV Cargo, which also considers ...
By Alex Lennane
Flexport’s charismatic Ryan Petersen has wooed investors again – and raised another $110m – giving the start-up a valuation of $800m. According to TechCrunch (Flexport wouldn’t comment), Flexport had received offers valuing it at more than $1bn, but decided that was a bit too much, in case the market sank. Flexport has 400 staff now, and expects revenues this year of $500m with a business model – according to TechCrunch – that has seen it shave five days off travel ...
Comment on this article
Nick Coverdale
October 06, 2017 at 2:06 pm” Flexport co-founder Ryan Petersen is a favorite amongst investors. “He’s a machine,” said one of TechCrunch’s sources ”
When I worked in the city of London every office had a machine for shilling you got tea or coffee , these investors for each million will be lucky if they get that .