Shopify shuns 'logistics' – Flexport losses narrow in another forgettable year
The drip drip of failure
Flexport: the name alone invokes a multitude of commentary in articles, at conferences and on social media – good, and not so good.
The company started in 2013 when founder Ryan Peterson, entrepreneur and co-founder of Import Genius, decided to tackle the ‘antiquated’ and ‘unsexy’ freight forwarding market. As noted in a Forbes article from 2016, Mr Peterson said: “It’s really all about coordinating complexity. In the freight world, the user experience is just broken.
“No company has enough assets to keep the goods within their own company the whole ...
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Gary Ferrulli
July 22, 2019 at 3:08 pmFlexport is a smartly self-styled “power” in the forwarding industry. They send out many press releases which few carefully review for accuracy. You apparently have and to say that they are not in the top 25 is a huge understatement. That said, they have garnered a great deal of funding access, and at TPM in March, they declared that their strategy moving forward was to use a recently announced $1. Billion in funding access to “grow commercially”. Translated, they are having to buy their way into the markets, as many have done in the past. Let’s see how that works out.