flexport investor presentation

Its death by 1,000 cuts.. 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. From soybeans and automobiles to lumber and lobsters, industries across the board have felt the impact as the U.S. seeks to stimulate demand for its goods and China continues to press for greater global economic influence. Flexport has 750 employees, and the revenue per employee ratio is $628,000. What customers wanted, Petersen realized, was an online destination that handled customs and their bigger concern: freight forwarding. Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Public Crypto LLC. Every crisis needs a hero, and Ryan Petersen positioned himself as the face of this, concedes Craig Fuller, who runs an industry data-and-news site called FreightWaves. 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. Over 2021, Flexport blew away its own projections, turning a surprise profit as revenue doubled. Gruzobzor offers a cloud-based service targeted at the transportation industry to enable carriers, shippers and freight forwarders to share electronic documents and communicate in real-time, therefore increasing efficiency when transporting goods B2B. Developer of a freight forwarding platform designed to provide visibility and control over the entire supply chain. You get invited to interesting things. Ergobaby stays in control, while operations keep improving. Plus Flexport's in-house experts across transportation, customs, cargo insurance, and working capital deliver an all-in-one solution for large global brands and small businesses alike. The Flexport Platform is your supply chain source of truth. Nowports competitors are Nuvocargo, Moova, DSV, and Flexport. Flexport's latest post-money valuation is from February 2022. Alternative Assets. In addition, it has . Pickup Trucks: With lines of semis now a familiar sight at major hubs, like these at the Port of Oakland, every minute counts. A Division of NBCUniversal. Flexport Is Silicon Valleys Solution To The Supply Chain Mess, Flexports CEO On The Suez Ship; Plus VC In Oklahoma! Kohlberg Kravis Roberts and Hedonova are the most recent investors. 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. But as Flexports revenue doubled past $200 million, then $400 million, and Petersen kept spending to launch offices in ports from Hamburg to Shenzhen, he caught the eye of the worlds leading expert on brute-forcing ones way to dominant market share: SoftBank. Who? Early on, the unit shipped 350,000 masks from the U.S. to Wuhan. In the U.S., its a $230 billion business, good for 1.1% of national GDP. Past performance is no guarantee of future results. Active, Closed, Last funding round type (e.g. How many investments has this organization made over time? Analysts are unclear as to whether the only path towards continuing its successful growth would be an IPO for Flexport. (If Forbes valued Petersens stake using the price of Flexport shares on the secondary markets, hed already be there, worth just over $1.1 billion.). Securities products offered by Open to the Public Investing are not FDIC insured. And Millions For Food Allergies, New September Tariffs: 3 Critical Things To Know For Your Supply Chain Now, Lets Send Help: Fixing Shipping And Logistics For Humanitarian Aid, New Hurdles Arise As Manufacturing Looks To Vietnam During U.S.-China Trade War, New Tariff Exclusion Request Procedure Announced As Impact Of Trade Restrictions Begins To Show, Avoiding Collateral Damage From Trade War Uncertainty, 7 Steps To Optimize The Freight Forwarding Process For Financial Advantage, Drive Supply Chain Visibility And Business Growth Through Digital Transformation, 4 Ways Modern Freight Forwarding Reins In Logistics Management, The Deal (Or No Deal) With Brexit: How You Can Plan For Impact On Your Supply Chain, China Antidumping Duties: Know Before You Owe, Getting A Grip On The Chaos Of Global Trade, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. In the US alone, Flexport has to deal with 43 different trade regulators. The, tion ullamco laboris nisi ut aliquip ex ea commodo consequat. Antidumping duties (ADD) are applied to goods that have been dumped into the U.S. market, sold at prices lower than what would be charged in the exporting countrys home market. 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. Flexport acquired 1 company. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. By that point, it was clear to Petersen that while Flexport was growing fast, the logistics market wasnt one where a hard-charging newcomer could sweep the board. Petersen is used to the sniping by now. All rights reserved. Flexport has not yet filed for an IPO. Petersen has a bachelors degree in economics from University of California, Berkeley and received his MBA from Columbia University. : How do decisions get made and how do you improve quickly? But with the source of that money coming from customers paying through the nose and still facing shipping delays, Petersen wasnt celebrating. It's a pretty ugly situation out there, says Flexport CEO Ryan Petersen on supply chain disruptions, The pandemic drove Clubhouse to a $4 billion valuation that never looked sustainable, WWE taps Fanatics to sell merchandise at live events like WrestleMania, SummerSlam, How Fanatics and MLB are planning to keep the trading card boom going. Probably not, actually. On the ocean side, weve always spent a lot of time on allocation management, and predicting and booking reliably with the carrier. And when the backup of ships waiting to unload at major ports reached a breaking point last fall, it was Petersen who showed up at the Port of Long Beach in California to charter a boat and tweet what he saw, prompting a viral response including a call from Governor Gavin Newsom and an overnight policy change to stack containers higher in local yards. Flexports centralized tracking and messaging cut out thousands of emails, saving clients an average of four work hours per week. 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. The hiring spree . During the global COVID-19 pandemic, they were one of 10 organizations that contributed to creating the Frontline Responders Fund. 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. For businesses facing inventory crunches, it built an app for truckers to tap into and learn where theyll be needed 10 days in advance. Of course, the doubters still doubt. The damage control worked. The day after his chartered boat tour of the Long Beach harbor, Petersen shared his findings on Twitter. Flexport has 29 investors. Learn more. : What metrics do you use to measure success and maintain focus? Petersen uses two major frameworks in order to maintain company culture and prioritize customer needs. Six years ago, they were mostly right. Its software platform makes it easy for its clients to engage in trade globally. Cryptocurrencies are not securities and are not FDIC or SIPC insured. Flexport International, LLC considers itself 'the OS of global trade'. Flexport was founded to modernize and fix the freight industry. To insiders in the famously quiet logistics industry, each interview and TV appearance is more testament to Petersens opportunism than market leadership. Shipping underwent one of its periodic global crises not long after, when the worlds seventh-largest shipping line declared bankruptcy and had ships seized in Chinese ports amid a pricing crash. For growth to stick, inventory needs to align tightly with demand. Collison was curious how the backup at Californias ports compared to mysterious bottlenecks in his world of online payments. Title At Company . Flexport raises $935 million to boost resilience and visibility in global supply chains. Apex Crypto is not a registered broker-dealer or a member of SIPC or FINRA. When? When Ryan Petersen does his interviews, people in the industry typically get upset because he tends to simplify things a lot. 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. This has happened in the past when they had a four year contract with Western Global Airlines that was beset with multiple mechanical failures and repair delays. (Reporting by Krystal Hu in New York; Editing by Leslie Adler), Over 40? The company was founded in 2015 and is based in Boston, Massachusetts. Keep in mind that other fees such as regulatory fees, Premium subscription fees, commissions on trades during extended trading hours, wire transfer fees, and paper statement fees may apply to your brokerage account. Petersen realized he didnt really know. Flexport owns no trains, planes or ships of its own. 23, 2023 11:47 PM ET Tango Therapeutics, Inc. (TNGX) SA Transcripts. Their most recent valuation was $3.2 billion. This transcript may contain forward-looking statements about, among other things, our anticipated operating and financial performance, business plans and prospects; expectations for our product pipeline, in-line products and product candidates, including anticipated regulatory submissions, data read-outs, study starts, approvals, post-approval clinical . : When should you execute tasks that satisfy customer needs? Its what the public wanted to see.. 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. But industry rivals say the 41-year-old near-billionaire and his startup are all show. Exclusive interview: Former Amazon consumer chief Dave Clark has a new job: co-CEO, and eventually sole CEO, of $8 billion-valued supply chain software startup Flexport. The company has received many awards. Flexport International, LLC considers itself the OS of global trade. She loves the stories that numbers tell us about business, relationships and health. Investors: Flexport works to earn a return on investment for their investors. Their latest investment was in Portao3 as part of their Seed VC on January 1, 2023. Here are three things you should know. Got a confidential news tip? Its freight service includes an online dashboard for businesses to easily understand, purchase, manage, and track the services required Flexport is a full-service global freight forwarder and logistics platform using modern software to fix the user experience in global trade. Soon a team of 25 staff in China was sourcing PPE for Flexports relief efforts full-time. Developer of a freight forwarding platform designed to provide visibility and control over the entire supply chain. Petersens bolder proposals, such as the creation of a government-sponsored railhead depot, remain untouched. Incumbents still relied heavily on sending faxes or PDFs back and forth, or freight email forwarding. Within a few months, Flexport had stitched together a working cloud-based version of its software. Alternative assets, as the term is used at Public, are equity securities that have been issued pursuant to Regulation A of the Securities Act of 1933 (as amended) (Regulation A). If they do end up exploring an IPO in the near future, investors should know all investments have risks. A single dashboard speeds workflows and surfaces insights. Today they have 10,000 clients in 200 countries. Flexport is funded by 90 investors. And when David was accepted into Y Combinator in 2013 for a construction industryfocused startup, Ryan grabbed an air mattress and tagged along. Its what the public wanted to see., As Petersen positions Flexport to go on offense when the shipping world returns (soon, one hopes) to some semblance of normalcy, hes eager to silence the doubters. 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. Pretty much any Asia-bound ship will have at least a container or two filled with California almonds or auto parts put there by Flexports software. It earns roughly 15 percent of the average $2,000 it costs to move a shipping container around the. Petersen explained, "The earliest customers for Flexport we got via Google Adwords, SCO, and sign-ups. Flexport raises $935 million to boost resilience and visibility in global supply chains. You can read more about your. Learn how were making Public available in even more places. It offers shipping, logistics, and carrier solutions for consumer goods, food and beverages, retail, manufacturing, life sciences, and other industries. 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. He comes from an entrepreneurial family; his mother was a biochemist and his father was a computer programmer together they ran a food safety business. Having already spent the first of SoftBanks $500 million, he realized he needed to shift course. The start-up was Flexport, and its founder is Ryan Petersen, then an importer of Chinese motorbikes who, frustrated by the complexities of the logistics process, was on a mission to make global trade easy for everyone. JSI and Jiko Bank are not affiliated with Public Holdings, Inc. (Public) or any of its subsidiaries. What you need to know about a 2021 Flexport IPO, Open to the Public Investing, Inc. So he flew down to Los Angeles to see for himself. Any container ship on the West Coast, I guarantee we are on there.. The company is a global freight forwarder and modern logistics platform whose goal is to fix and improve user experience in global trade. In August 2018, they started Transmission LLC which provides ELD and GPS technology specific to managing a trucking fleet. 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. Flexport would try to become a profitable business now. The starting goal of Flexport was to fix the user experience in global trade. Fractional shares are illiquid outside of Public and not transferable. Far, far from it. Which industries has this organization most actively invested in? 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. They have all these ways to win, he adds. His father was a government economist, using 1970s-era computers to crunch numbers on Soviet defense spending and running a coding business on the side. 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. Any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of acceptance given after the date of qualification by the SEC or as stated in the offering materials relating to an investment opportunity, as applicable. There is a possibility of loss. Copyright 2023 Public Holdings, Inc. All Rights Reserved. Its latest funding round was led by Andreessen Horowitz and Michael Dell's MSD Partners, and includes a strategic investment from Shopify. Two major ones are regulators and vendors. Track cargoeven if other partners handle it. The company is headquartered in San Francisco, California, [4] has thousands of employees and has annual revenues of more than $3.3 billion. 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. Digital freight forwarder Nowports reaches $1.1B valuation. Petersen also hasnt been shy about building his public image. All Rights Reserved. San Francisco, California, United States 1001-5000 Debt Financing Private www.flexport.com 5,194 Highlights Acquisitions 2 Investments 49 Exits 1 Total Funding Amount $2.4B Contacts 1,016 Employee Profiles 39 Sign up for a free trial to see revenue data from 2021, 2018, 2017 and more. Investors need to know that all ventures have risks if they decide to go public shortly. Its easier to gain insight with data that is structured for success. 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. Employees: Flexport aims to create a win-win situation for employees. But its Flexports visibility tools that allow marketers and store managers to know when to expect new shipments thats really valuable, says Rothys COO, Heather Skidmore Howard. : Where does your team feel a sense of belonging and inclusivity? JSI uses funds from your Treasury Account to purchase T-bills in increments of $100 par value (the T-bills value at maturity). Graduating trilingual (English, Spanish and Portuguese) with an economics degree from the University of California, Berkeley, in 2002, Petersen initially pursued a global microlending career without success. Edit Jobs Section. It primarily caters to the automotive, building materials, consumer goods, food and beverage, manufacturing, oil, gas, and chemicals, and retail industries. 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. Petersen calls it his biggest mistake as a CEO so far. According to the website, the Flexport vision includes building the first Operating System for Global Trade, a strategic operating model that combines technology and analytics, logistics infrastructure, and hands-on supply chain expertise. 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. Investments in T-bills: Not FDIC Insured; No Bank Guarantee; May Lose Value. Its not one of those things where you have a product or you dont, says Founders Funds Trae Stephens. But three days after the second half of the money was wired, SoftBank-backed WeWork released its ill-fated public offering prospectus. 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. WeWorks larger-than-life cofounder Adam Neumann was out in matter of weeks. Supply chain agility can help support core business values, like sustainability. Book, track and deliver freight shipments from factory floor to customer door. CBI websites generally use certain cookies to enable better interactions with. Flexport is raising $935 million in a series E round. 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. Forget Meta's Sleek Virtual Reality. Petersen admires the neat rows of rectangles colored blue, rust red and an occasional teal, stacked on the post-Panamax-class ship bound for Yokohama, Japan. It is a licensed customs brokerage and freight forwarder built around a modern web application. People should believe in us.. CNBC's Hugh Son joins 'Squawk Box' to report the latest on JPMorgan's acquisition of First Republic. ODX Flexport is a highly specialized accelerator program exclusively for innovative and disruptive logistics . Want help? 41 in 2021). Subscribe. Data is a real-time snapshot *Data is delayed at least 15 minutes. : What values and behaviors do you look for in employees you hire? Customs had high margins, but at $99 per transaction wouldnt amount to enough. Leading the charge in pursuit of new ways to drive growth and strategy is, typically, the chief financial officer (CFO). Access capital for logistics costs and focus on opportunity. Asked onstage at a June 2016 conference if he would still take Thiels money knowing hed support a politician tough on China trade, Petersen spoke from the hip. CNBC's 11th annual Disruptor 50 list will be revealed on-air and online this May. No minimum hold periods. PitchBooks comparison feature gives you a side-by-side look at key metrics for similar companies. Higher yield than a high-yield savings account. Onboard suppliers. All investments involve the risk of loss and the past performance of a security or a financial product does not guarantee future results or returns. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. Flexport. For a complete explanation of conditions, restrictions and limitations associated with fractional shares, see our Fractional Share Disclosure to learn more. Their latest acquisition was Crux Systems on October 10, 2019. Via its impact arm, Flexport.org, the company supports mission-focused and ecological sustainability work. Conversely it tooks days before they heard from competitors if at all. October 2019 acquired Crux Systems for an undisclosed amount. Third-party logistics, of which freight forwarding is a big part, amounts to nearly $1 trillion. 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. But industry rivals say the 41-year-old near-billionaire and his startup are all. 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. The following slide deck was published by International Paper Company in conjunction with their 2023 Q1 earnings call . With fresh financing, the company says it plans to begin expanding into new markets and accelerate the development of its technology. Nor have they officially released any statement indicating they are exploring one. Its software platform makes it easy for its clients to engage in trade globally. Crypto. 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. Molekule scales its stock by coordinating with suppliers in the Flexport Platform to ensure cargo-ready dates. Flexport founder and CEO Ryan Petersen Now the company has over 400 employees in seven offices. Demand is at a record highglobal trade volumes rose 8.3% in 2021, according to Allianz subsidiary Euler Hermes. JPMorgan has released a presentation for investors with more detail about its deal to buy the bulk of failed lender First Republic. Number of Past Jobs 1. Prior to founding Flexport, Schneberg had transportation and logistics experience and was the Founder and leader of the Next Generation Think Tank. August 2018 acquired Fieldbook for $1.5 million. Flexport has a post-money valuation in the range of $1B to $10B as of Feb 7, 2022, according to PrivCo. The platform boosts operational effectiveness, cuts costs, and helps enhance shipping performance. 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 . It is a licensed customs brokerage and freight forwarder built around a modern web application. Hed rather be seen as shippings Mr. Fix-It. The chartered planes stopped. They utilize Flexports proprietary modern technology system to help them route supplies to wherever they are most needed in the world. One challenger with momentum is Chicago-based project44, a pure logistics data play which raised $420 million in January at a $2.6 billion valuation. In fact, in April 2020, CEO Petersen was quoted in a TechCrunch article as saying, Im just having fun. The above content provided and paid for by Public and is for general informational purposes only. AS the ferry to San Francisco exits Oaklands harbor, Flexports founder and CEO, Ryan Petersen, turns to watch a towering 370-foot crane hook shipping containers, one by one, onto the deck of a cargo ship. CB Insights Intelligence Analysts have mentioned Flexport in 14 CB Insights research briefs, most recently on Nov 10, 2022. Sign up for a free trial to see Flexport's valuations in February 2019, April 2018, September 2017 and more. Flexport is a full-service global freight forwarder and logistics platform using modern software to fix the user experience in global trade. He created his own list of six questions to help him stay on track: Two other guiding characteristics are discipline and accountability. Early in lockdown, he sent hundreds of thousands of units of personal protective equipment to Wuhan, Chinathen set his team to routing much more back when the virus reached U.S. shores, booking special planes to ship masks by the millions while rallying the public to donate funds. Executive Offices 100 First Stamford Place Stamford, Connecticut 06902 (203) 363-7300 See the full list of 2022 Disruptor 50 companies, Silicon Valley supply chain fixer Flexport tops the 2022 CNBC Disruptor 50 list, What happens after the crash for cash-burning tech companies, Where the billions being spent on autonomous vehicles is heading, Early Tesla investor bets on a logistics start-up, Where tech workers are finding buyers for private stock with IPO market shut, The Oculus VR headset creator joins the military, The company hoping to beat Warren Buffett's bet on dialysis, A very tall French warehouse robot coming for the jobs we can't reach, How America's towns and cities are getting a climate retrofit. Apr. How? Updated data for US Treasury yield curve. For Ergobaby, collaboration helps launch products. In 2018, China represented 75.2% of U.S. seaborne imports linked to Flexport, while in 2019 that had fallen to 62.8% before declining to 47.8% in the first quarter. The company was founded in 2013 by Ryan Petersen and is based in San Francisco, California. Bootstrapped and profitable within a couple years, ImportGenius.com still generates millions in cash to this day. But the duo had bigger ambitions. 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. There are a few places that have seen substantial benefits from companies moving production as a means to mitigate the impact of tariffs on goods from China. Flexport's product offers a step-change improvement over traditional forwarders by injecting technology into every step of the forwarding process, standardizing data and abstracting complexity from existing manual, paper-based systems into a modern software experience. For most everyone else in the logistics business, it was exasperating. Customer Relationship Summary. It helped set up a private rail ramp in Iowa for goods coming from the West Coast to avoid Chicago congestion. A digitized product library creates speed and consistency across your customs documentation, so you and your broker can work in harmony. For Flexport, it was a marketing masterstroke, though Petersen swears that wasnt his intent. For more information on risks and conflicts of interest, see these disclosures. Customer Relationship Summary, Open to the Public Investings Fee Schedule. Orkestra Supply Chain Solutions (SCS) is a logistics and technology company that removes complexity through an intelligent platform and experienced people. Do not infer or assume that any securities, sectors or markets described in this article were or will be profitable. They have adapted and grown through the pandemic. The value of T-bills fluctuate and investors may receive more or less than their original investments if sold prior to maturity. Order Management delivers orders to suppliers, who book shipments across a global logistics networkright in the Flexport Platform.

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