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What Flexport Wants To Do For Freight Shipping
Flexport Wants To Do For Freight Shipping What FedEx Does For Small Packages

Ship a small package through FedEx or UPS, and you can track its whereabouts on your smartphone. But the $9 trillion global logistics business uses a different model, with so-called freight forwarders relying on antiquated systems, including faxes and phone calls, to coordinate along the delivery chain. In 2013, Ryan Petersen founded Flexport, a new kind of freight forwarder based in San Francisco. His goal: use automation and software that lets customers track and control their cargo a la FedEx. He’s raised $94 million in venture capital from investors that include Peter Thiel’s Founders Fund, First Round Capital and Google Ventures. Flexport, which has 420 employees in seven offices, including Atlanta, Amsterdam, Hong Kong and Shenzhen, was valued at $365 million in July 2016 and its revenue is expected to hit $500 million this year. In this interview, which has been edited and condensed, Petersen explains what Flexport can do for anyone who ships freight.

Read More: http://https://www.forbes.com/sites/forbestreptalks/2017/07/28/flexport-wants-to-do-for-freight-shipping-what-fedex-does-for-small-packages/#1e4714e95c9e
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