But industry rivals say the 41-year-old near-billionaire and his startup are all. 2023 Forbes Media LLC. PDF ServiceNow 1Q23 Investor Presentation Invest in baskets of securities in a single trade. Past performance is no guarantee of future results. WeWorks larger-than-life cofounder Adam Neumann was out in matter of weeks. At Georgia-Pacific, replacing thousands of email updates and attachments with a single view led to 100% on-time customs filings. 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. JPMorgan has released a presentation for investors with more detail about its deal to buy the bulk of failed lender First Republic. Global logistics platform Flexport announced Monday it is looking to close a $935 million series E investment round by the end of the first quarter that will value the company at over $8 billion. 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. Exce, To view Flexports complete valuation and funding history, request access, Youre viewing 5 of 34 competitors. Hed rather be seen as shippings Mr. Fix-It. 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. Long Beach Mayor Robert Garcia sent the list to his staff; the city eased restrictions on stacking containers the next day. Flexport has 750 employees, and the revenue per employee ratio is $628,000. Claim your profile to get in front of buyers, investors, and analysts. Of course, the doubters still doubt. He let go of 50 staffers, about 3% of Flexports workforce. Nov 2 (Reuters) - 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. 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. inventory management. 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 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. Apr. Only Flexport delivers deep visibility and control, low and predictable supply chain costs, and faster and more reliable transit times. He outlined some quick fixes, including stacking containers higher and building a new railhead. Onboard suppliers. He created his own list of six questions to help him stay on track: Two other guiding characteristics are discipline and accountability. You can read more about your cookie choices at our privacy policyhere. Poskus predicts this will continue for at least the next two quarters and industry analysts agree. Petersen remains as CEO and Schneberg is now the founder and leader of Flexports impact arm, Flexport.org. What you need to know about a 2021 Flexport IPO - Public An affiliate of Public may be testing the waters and considering making an offering of securities under Tier 2 of Regulation A. Get help and support from our award-winning team. Apex Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. To insiders in the famously quiet logistics industry, each interview and TV appearance is more testament to Petersens opportunism than market leadership. Explore 9,000+ stocks with company-specific analysis. She loves the stories that numbers tell us about business, relationships and health. Seed, Series A, Private Equity), Alternate or previous names for the organization, Tags are labels assigned to organizations, which identify their belonging to a group with that shared label, Whether an Organization is for profit or non-profit, General contact email for the organization, Total number of sub-organizations that belongs to a parent Organization, Edit Lists Featuring This Company Section. JPMorgan reveals details of First Republic deal in investor presentation A few months later, Thiel stepped up to invest againat a more generous price. Petersen agrees: I call our sales process like playing Battleship. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Petersen also plans to build out a fulfillment product that can identify high-priority goodssay, for direct-to-consumer brandsand ship them faster through a virtual HOV lane., Flexport is the definitive next-gen winner in the space, full stop, says David George, a growth-stage investor who co-led Flexports latest round on behalf of Andreessen Horowitz. Petersens bolder proposals, such as the creation of a government-sponsored railhead depot, remain untouched. Tive provides real-time supply chain visibility insights to help logistics professionals manage their in-transit shipments' locations and conditions. Commission-free trading of stocks and ETFs refers to $0 commissions for Open to the Public Investing self-directed individual cash brokerage accounts that trade the U.S.-listed, registered securities electronically during the Regular Trading Hours. It earns roughly 15 percent of the average $2,000 it costs to move a shipping container around the. : Where does your team feel a sense of belonging and inclusivity? Its software platform makes it easy for its clients to engage in trade globally. 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. Nominations are officially closed. 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. Open to the Public Investing, Inc. Flexport Company Profile: Valuation & Investors | PitchBook Trusted data backs every move. Investors: Flexport works to earn a return on investment for their investors. It sounds like bravado, but for Petersen, 41, its simple math. Buy fractional shares of fine art, collectibles, and more. Automate orders. Petersen realized he didnt really know. 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. Got a confidential news tip? Historical or hypothetical performance results are presented for illustrative purposes only. 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. The mission of ODX Flexport is to help build the future of logistics and bring visibility, efficiency and innovation back to an industry that grew 65x since its last major innovation: the invention of the standardized shipping container. Developer of a freight forwarding platform designed to provide visibility and control over the entire supply chain. Please see Open to the Public Investings Fee Schedule to learn more. Kevin Kwok has had 1 past job as the Summer Venture Analyst at IA Ventures. For Flexport, it all means business is booming. Related: You can learn more about IPOs here. For Flexport, there are 43 regulators in just the US who take an interest in imported products, and there are additional ones across the globe. Here are some key takeaways. 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. Global spending on logistics reached $9 trillion in 2020, about 11% of the worlds gross domestic product, according to consultancy Armstrong & Associates. Via its impact arm, Flexport.org, the company supports mission-focused and ecological sustainability work. Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. The company's platform arranges goods to be transported and subsequently tracks the inventory in real-time in orders carried by ocean, air, and road freight, enabling logistics companies to optimize transportation routes and inventory management. Turns out Full Container Load shipping (FCL) isnt really full. The Flexport platform streamlines supply chain workflows enabling real-time communication and data-backed decision-making. Flexport is a full-service global freight forwarder and logistics platform using modern software to fix the user experience in global trade. The company is a global freight forwarder and modern logistics platform whose goal is to fix and improve user experience in global trade. Flexport's 2018 revenue was $441M - $471M. Sales reached $3.3 billion in 2021, up from $1.3 billion in 2020 and $670 million the year before (Flexport passes about 80% of its revenue directly to its shipping partners). Probably not, actually. (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.). : When should you execute tasks that satisfy customer needs? It is a licensed customs brokerage and freight forwarder built around a modern web application. Flexport It now has offices in 23 countries and is nearing 3,000 employees. Flexport has 29 investors. Investing in Flexport | Andreessen Horowitz Flexports revenue run rate has shown consistent growth from approximately $30 million in 2014 to $1.7 billion in 2020. Flexport. Exclusive: Amazons Consumer Chief Dave Clark Joins Supply Chain Startup Flexport As CEO. Six years ago, they were mostly right. Sign up for a free trial to see revenue data from 2021, 2018, 2017 and more. Flexport's latest post-money valuation is from February 2022. Backed by some of Silicon Valleys most prominent VCs and tech billionaires, including Peter Thiels Founders Fund, Yuri Milner and Masayoshi Son, Flexport was founded in 2013 to automate paper customs forms. Founder Ryan Petersen plans to step into an eventual executive chairman role. "Recruiting has been very challenging for the last couple of years. Apex Crypto is not a registered broker-dealer or a member of SIPC or FINRA. Pfizer Inc. - Pfizer 2023 Annual Meeting of Shareholders : What values and behaviors do you look for in employees you hire? 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. Nor have they officially released any statement indicating they are exploring one. With logistics partners in more than 80 countries, companies of any size can transport goods to and from more places with greater ease and agility. Open to Public Investing is a wholly-owned subsidiary of Public Holdings, Inc. (Public Holdings). Flexport Is Silicon Valley's Solution To The Supply Chain - Forbes 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. Flexport International, LLC considers itself 'the OS of global trade'. It expects revenue of close to $5 billion this year. Flexport - Wikipedia Flexport is the company aiming to untangle those knots. Why you should check Bupa, HCF and others, You could be overspending on your health insurance, 25 Cheap Dividend Stocks With Safe Yields for 2023. Flexport Skip to content Far from it. Flexport raises nearly $1 billion, as Shopify, Michael Dell invest - CNBC Customers choose Flexport not because Petersen reinvented the wheel but because its one-stop software suite simplifies their lives. 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. Prior to starting Flexport, Petersen founded and led a data-as-service company supporting global shipping for businesses called ImportGenius.com with his brother. This story appears in the February/March 2022 issue of Forbes Magazine. Flexport revenue is $471.0M annually. Petersen also hasnt been shy about building his public image. 41on last year'sCNBC Disruptor 50list, has raised $2.2 billion to date. You dont sink the battleship with one pin.. Flexport acquired 1 company. Its rerouting lighter, higher-value products like Everlanes popular sweaters from sea to air. Our presentation of non -GAAP financial measures may not be comparable to similar measures used by other companies. 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. Forbes estimates Petersens 9% stake in Flexport is worth $650 million, after our standard 10% private-company discount. Cryptocurrencies are not securities and are not FDIC or SIPC insured. Our industry thinks Im a clown, which I dont mind, he says. Organization Name . Regulators: Flexport applies for and maintains licensure through regulatory bodies. 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. PDF LPL Financial Q1 2023 Investor Presentation 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. Feb 7, 2022: Flexport Series E - Flexport . For Flexport, it all means business is booming. 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. But industry rivals say the 41-year-old near-billionaire and his startup are all show. Petersen has a bachelors degree in economics from University of California, Berkeley and received his MBA from Columbia University. CBI websites generally use certain cookies to enable better interactions with our sites and services. Kohlberg Kravis Roberts and Hedonova are the most recent investors. Their latest funding was raised on Oct 20, 2022 from a Debt Financing round. The platform boosts operational effectiveness, cuts costs, and helps enhance shipping performance. Flexport states they have a market advantage in terms of their capacity to manage and understand the data, in allocation management, and their prediction and booking ability. How much funding has this organization raised over time? As recently as 2020, Flexport did not seem to be exploring an IPO. Flexport IPO: The Latest Updates on Flexport Stock Discover how we're making the markets work for all investors. Pitney Bowes Files Investor Presentation for 2023 Annual Meeting 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. : What metrics do you use to measure success and maintain focus? The basis of this belief is that if you dont prioritize your customers, your business will not be sustainable. No money or other consideration is being solicited and, if sent in response, will not be accepted. Do not infer or assume that any securities, sectors or markets described in this article were or will be profitable. Customer Relationship Summary. Flexport is a full-service global freight forwarder and logistics platform using modern software to fix the user experience in global trade. Investments in T-bills: Not FDIC Insured; No Bank Guarantee; May Lose Value. But it was also a warning: Disruption to trade with China could devastate Flexports core business. 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. Sign up for a free trial to see Flexport's valuations in February 2019, April 2018, September 2017 and more. No 21-year-old in college is lying awake at night saying, I need to build the next Flexport.. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. It has experienced rapid growth amid the pandemic-led global supply-chain disruptions. Reporters looking for a wider trend among SoftBank companies pounced. Amazon's Devoted Cloud Customers Face A Decision After Outages: Leave, Stay Or Diversify? KKR invested in Flexport's Line of Credit funding round. Flexport revenue, valuation & growth rate | Sacra All rights reserved. In August 2018, they started Transmission LLC which provides ELD and GPS technology specific to managing a trucking fleet. Additional information can be found here. Flexport peak revenue was $471.0M in 2022. 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? 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. Sign up for free newsletters and get more CNBC delivered to your inbox. Flexport - Products, Competitors, Financials, Employees, Headquarters This content is not investment advice. Crews from Axios on HBO and 60 Minutes asked him to guide them on their own harbor tours. Layoffs hit Flexport, another SoftBank-backed startup worth $3.2B - Yahoo! Flexport's mission is to fix the user experience in global trade and bring the world free trade through technology. No offer to buy securities can be accepted, and no part of the purchase price can be received, until an offering statement filed with the SEC has been qualified by the SEC. Funding Round . He engages where a lot of executives wont. The company was founded in 2015 and is based in Boston, Massachusetts. Flexport Winning $8 Billion Valuation With Tech-Enabled Global CB Insights Intelligence Analysts have mentioned Flexport in 14 CB Insights research briefs, most recently on Nov 10, 2022. As most in the freight forwarding and global trade business know, logistics managers are front and center on the frontline, responsible for making sure supply chains run smoothly. With quick uplift to speed delivery, urgent shipments lift sales. 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. 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. $935M: Jobs. 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. Brokerage services for alternative assets available on Public are offered by Dalmore Group, LLC (Dalmore), member of FINRA & SIPC. Flexport's latest post-money valuation is from February 2022. 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. Nowports competitors are Nuvocargo, Moova, DSV, and Flexport. Flexport Stock Price, Funding, Valuation, Revenue & Financial Statements Flexport manages the shipping of 25 products from a factory in China to two hubs in California and Kentucky and offsets their carbon footprint. Updated data for US Treasury yield curve. Flexport Raises $935 Million to Boost Resilience and Visibility in LPL Financial Member FINRA/SIPC 3 Notice to Investors: Non-GAAP Financial Measures Management believes that presenting certain non- GAAP financial measures by excluding or including certain items can be helpful t o investors and analysts who may wish to use this information to analyze the Its easier to gain insight with data that is structured for success. But no one can dispute Petersens efficacy. The founders of Flexport are Ryan Petersen and Susanne Schneberg. All Rights Reserved. The Office of the United States Trade Representative (USTR) announced the procedure by which companies can request exemptions from the additional 25 percent tariffs placed on List 3 goods imported from China under section 301 of the Trade Act of 1974. Personalize which data points you want to see and create visualizations instantly. T-bills are subject to price change and availability - yield is subject to change. Customs had high margins, but at $99 per transaction wouldnt amount to enough. For businesses facing inventory crunches, it built an app for truckers to tap into and learn where theyll be needed 10 days in advance. What you need to know about a 2021 Flexport IPO, Open to the Public Investing, Inc. I need to continue to convince them that Im crazy so they dont get their act together and compete with us.. The day after his chartered boat tour of the Long Beach harbor, Petersen shared his findings on Twitter. Petersens phone lit up with calls from policymakers like Gavin Newsom. Access capital for logistics costs and focus on opportunity. (purpose, mission, vision, and impact). He utilizes the OKRs system created by Intels Andy Grove and most famously used by Amazon. Add in a prolific angel investment portfolio and part ownership of a profitable side business, and hes closer to $750 million, knocking on the door of billionaire status. 23, 2023 11:47 PM ET Tango Therapeutics, Inc. (TNGX) SA Transcripts. In addition, 2021 was the company's first positive year in earnings before interest and taxes (EBIT). San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. Flexport winning $8B valuation with tech-enabled global logistics So he went to work for David, buying trinkets from China to resell, such as gag drivers licenses made out to Elvis Presley. After flipping a container of scooters for a profit on eBay, they moved upmarket to motorsports bikes and parts. The issuers of these securities may be an affiliate of Public, and Public (or an affiliate) may earn fees when you purchase or sell Alternative Assets. Today they have 10,000 clients in 200 countries. For years, Petersen had tinkered with another idea, a TurboTax for customs paperwork, but he needed to clear a rigorous background check (smuggling is one concern) to move goods across the U.S. border. Active, Closed, Last funding round type (e.g. We let them understand what the consequences were for their portfolio of products. For growth to stick, inventory needs to align tightly with demand. Flexport is the platform for global logisticsempowering buyers, sellers and their logistics partners with the technology and services to grow and innovate. It is not intended to constitute investment advice or any other kind of professional advice and should not be relied upon as such. So let's look at some potential difficulties investors may face if a Flexport IPO date occurs. The following slide deck was published by Tango Therapeutics, Inc. in conjunction with this . The gate-crashing younger Petersen made a lasting impression on Paul Graham, the accelerators cofounder, who had an interest in global trade. Flexports software analyzes and optimizes a customers supply chain, then automates it, often coming up with ways to shave days off delivery and save customers millions in late fees.

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