Petersen grew up surrounded by entrepreneurs in Bethesda, Maryland, just inside D.C.s Capital Beltway. (purpose, mission, vision, and impact). Customer Relationship Summary, Open to the Public Investings Fee Schedule. Lets explore what type of risks investors might need to consider with a Flexport IPO. 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). Developer of a freight forwarding platform designed to provide visibility and control over the entire supply chain. Flexport. Crews from Axios on HBO and 60 Minutes asked him to guide them on their own harbor tours. No minimum hold periods. Flexport International, LLC considers itself 'the OS of global trade'. Personalize which data points you want to see and create visualizations instantly. Money Raised . Flexport is a full-service global freight forwarder and logistics platform using modern software to fix the user experience in global trade. Edit Jobs Section. Active, Closed, Last funding round type (e.g. Access the latest trends, expert commentary, and indicators for unique insights into the global economy. For a price, Flexport will even offset their carbon footprint. The day after his chartered boat tour of the Long Beach harbor, Petersen shared his findings on Twitter. Flexports biggest competitors are: Telenet Global Logistics, a private travel and leisure company; Bremer Lagerhaus, a publicly traded travel and leisure company; Global Tranz, a travel and leisure company that is a subsidiary of another company; and Echo Global Logistics, a publicly traded tech company. If they do end up exploring an IPO in the near future, investors should know all investments have risks. Which industries do these Sub-Organization operate in? Want help? Forget Meta's Sleek Virtual Reality. Please ensure that you fully understand the risks involved before trading: Legal Disclosures, Apex Crypto. Founded in 2013 by Ryan Petersen, Flexport enables buyers, sellers and their logistics partners to ship, store and trade goods on its digital platform. Flexport would try to become a profitable business now. 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. Listen to our daily live shows on the latest market news. Once you sell your business, youre just another rich guy. "This investment signals that the market recognizes the need for a tech-enabled logistics ecosystem that has the visibility and resilience to handle unexpected challenges of any scale," Petersen said in announcing the deal. Probably not, actually. 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. But industry rivals say the 41-year-old near-billionaire and his startup are all show. 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. 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. 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. If the UK leaves the EU without a trade deal in place, the UK loses access to the European single market with its free movement of goods. He notes the increase is due not just to increased current demand, but also by retailers re-stocking to be prepared for future demand. All Rights Reserved. Early on, the unit shipped 350,000 masks from the U.S. to Wuhan. Brokerage services for US-listed, registered securities are offered to self-directed customers by Open to the Public Investing, Inc. (Open to the Public Investing), a registered broker-dealer and member of FINRA & SIPC. While no one is exempt from risk, if Flexport continues to develop an operating system that assists its clients with solving all of the freight forwarding problems, there is a potential for gain. The founders of Flexport are Ryan Petersen and Susanne Schneberg. Apex Clearing Corporation, our clearing firm, has additional insurance coverage in excess of the regular SIPC limits. A Division of NBCUniversal. 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. Past performance is not indicative of future performance. Conversely it tooks days before they heard from competitors if at all. As an investor, you are normally granted access to company-wide performance data such as sales, revenue, profit or loss statements, and so forth. This is not an offer, solicitation of an offer, or advice to buy or sell securities or open a brokerage account in any jurisdiction where Open to the Public Investing is not registered. Americans spent 20% more on goods last fall than in February 2020. 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. Flexport's valuation in February 2022 was $7,065 - $8,000M. Regulators and vendors are two big ones. Flexport's 2018 revenue was $441M - $471M. : How do decisions get made and how do you improve quickly? But truthfully, Flexport competes with multiple freight forwarding companies that exist in online marketplaces that focus on winning the price war. Flexport owns no trains, planes or ships of its own. She loves the stories that numbers tell us about business, relationships and health. Flexport revenue is $471.0M annually. Learn more. The following slide deck was published by International Paper Company in conjunction with their 2023 Q1 earnings call . 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. Flexport's deal structure is available for 6 funding rounds, including their Series E - II from February 07, 2022. 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. Petersens phone lit up with calls from policymakers like Gavin Newsom. Via its impact arm, Flexport.org, the company supports mission-focused and ecological sustainability work. 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. Why? Duis aute irure do, prehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Customs had high margins, but at $99 per transaction wouldnt amount to enough. Petersen was accepted into YCs 2014 batch as one of the last founders under Grahams direct mentorship. According to the WTO, over 80% of global trade utilizes freight financing so this was an important addition for the company. This content is not investment advice. Flexport's latest post-money valuation is from February 2022. 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. Global spending on logistics reached $9 trillion in 2020, about 11% of the worlds gross domestic product, according to consultancy Armstrong & Associates. U.S. Treasuries ("T-Bill") investing services on the Public Platform are offered by Jiko Securities, Inc. (JSI), a registered broker-dealer and member of FINRA & SIPC. 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. Please see Open to the Public Investings Fee Schedule to learn more. In 2020 at the Alcott Global Virtual Supply Chain Summit, Flexports COO Sanne Manders, said the reason they were able to capitalize on the trade wars and COVID-19 crises in 2020 was because they are a smaller organization built on modern technology and therefore they were able to quickly pivot. Developer of a freight forwarding platform designed to provide visibility and control over the entire supply chain. Average folks who never gave a thought to the global supply chain are paying attention now. No 21-year-old in college is lying awake at night saying, I need to build the next Flexport.. It is a licensed customs brokerage and freight forwarder built around a modern web application. 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. A digitized product library creates speed and consistency across your customs documentation, so you and your broker can work in harmony. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. In the U.S., its a $230 billion business, good for 1.1% of national GDP. Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. Leading the charge in pursuit of new ways to drive growth and strategy is, typically, the chief financial officer (CFO). Others question whether itll be Flexport that will win. Before taking action based on any such information, we encourage you to consult with the appropriate professionals. Stocks and ETFs. Limit delays, fix exceptions quickly, and calculate landed costs with accuracy. Apex Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. 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. our sites and services. Empowering companies to connect with their retail investors. His mother, a biochemist, ran a business helping companies manage food safety regulations. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Companies of all sizesfrom emerging. Flexport is a full-service global freight forwarder and logistics platform using modern software to fix the user experience in global trade. Flexport's latest funding round was a Line of Credit for $200M on October 20, 2022. For businesses facing inventory crunches, it built an app for truckers to tap into and learn where theyll be needed 10 days in advance. With a seemingly massive market opportunity and an obvious passion for what seemed a sleepy category, Flexport quickly raised $4 million from a gaggle of name-brand firms. Find the right balance of cost and speed for any shipment. Its software platform makes it easy for its clients to engage in trade globally. Petersen realized he didnt really know. Petersen explained, "The earliest customers for Flexport we got via Google Adwords, SCO, and sign-ups. For Petersen, the ground shifted fast. Copyright 2023 CB Information Services, Inc. All rights reserved. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. In addition, it has . While there are risks for the company, overall the freight forwarding industry globally is experiencing increased demand. Sign up for a free trial to see Flexport's valuations in February 2019, April 2018, September 2017 and more. Data is a real-time snapshot *Data is delayed at least 15 minutes. Petersens thread was quickly retweeted more than 15,000 times, including by Coinbase billionaire CEO Brian Armstrong. It works with at least 20 more across the globe. Its software platform makes it easy for its clients to engage in trade globally. All Rights Reserved. Exclusive: Amazons Consumer Chief Dave Clark Joins Supply Chain Startup Flexport As CEO. Organization Name . The expanded team will work on building the core product, and improve the tracking system and add more automation to the platform. 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 . Exce, To view Flexports complete valuation and funding history, request access, Youre viewing 5 of 34 competitors. Petersen remains as CEO and Schneberg is now the founder and leader of Flexports impact arm, Flexport.org. Higher yield than a high-yield savings account. Sign up for a free trial to see Flexport's valuations in February 2019, April 2018, September 2017 and more. For years, skeptics have argued that Flexports software does little that you cant find today in competitors offerings big and small. If a vendor has poor performance or a disaster, this will affect Flexports ability to deliver on its promises to its own clients. The notion that Petersen hasnt earned his stripes runs deeper than all the good press he gets. End Date : Why do you exist? Much damage had already been done. What customers wanted, Petersen realized, was an online destination that handled customs and their bigger concern: freight forwarding. EPS of $0.53 beats by $0.06 | Revenue of $5.02B (-4.14% Y/Y) misses by $9.58M. 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. Flexport moved $19B in gross merchandise value in 2021 for clients across 112 countries. inventory management. In January 2019, Petersen sat down to close a deal with Masayoshi Son; 45 minutes later, he walked away with a $1 billion commitment. 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. 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. 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. Total amount raised across all funding rounds, Total number of Crunchbase contacts associated with this organization, Total number of employee profiles an organization has on Crunchbase, Descriptive keyword for an Organization (e.g. Who? Flexport manages the shipping of 25 products from a factory in China to two hubs in California and Kentucky and offsets their carbon footprint. See JSIs FINRA BrokerCheck and Form CRS for further information. Privately held Flexport is one of the most valuable logistics startups after raising more than $2 billion in funding. Regulators: Flexport applies for and maintains licensure through regulatory bodies. This story appears in the February/March 2022 issue of Forbes Magazine. 41 in 2021). Ninja Delivery is an e-commerce website that provides delivery for foods, drinks, and household items. Flexport was awarded sixth place in FreightWave's 2020 FreightTech 25 competition in November. In August 2018, they started Transmission LLC which provides ELD and GPS technology specific to managing a trucking fleet. 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. 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. The hiring spree . Petersen started chartering planes again, this time for a good cause. At Georgia-Pacific, replacing thousands of email updates and attachments with a single view led to 100% on-time customs filings. Flexport hasnt been in any legal or ethical trouble but they did file a lawsuit against Western Global Airlines (WGA) for failing to provide service due to a long string of mechanical failures and delayed aircraft repairs, disrupting Flexports business. Our presentation of non -GAAP financial measures may not be comparable to similar measures used by other companies. 2023 Forbes Media LLC. Flexport, a provider of technology-forward freight services, has raised . He outlined some quick fixes, including stacking containers higher and building a new railhead. This week, we're checking in with Flexport CEO Ryan Petersen about shipping's meme moment in the Suez, looking into a new venture fund in Oklahoma, mapping ServiceTitan's valuation journey, and diving into food allergies getting investor dollars. In 2018 they were recognized on the following lists: In 2019 they were recognized on the following lists: Flexports guiding principles have been consistently employed from the beginning. 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. Shipping is a huge pond. JSI uses funds from your Treasury Account to purchase T-bills in increments of $100 par value (the T-bills value at maturity). Check the background of this firm on FINRAs BrokerCheck. What? The basis of this belief is that if you dont prioritize your customers, your business will not be sustainable. But it was also a warning: Disruption to trade with China could devastate Flexports core business. Its platform allows customers to book, manage and keep track of their international freight as well as use analytics to drive supply chain decisions. Get help and support from our award-winning team. The company has received many awards. 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. People should believe in us.. Flexport Is Silicon Valleys Solution To The Supply Chain MessWhy Do Insiders Hope ItSinks? Learn more. None of these entities provide legal, tax, or accounting advice. After extensive research and analysis, Zippia's data science team found the following key financial metrics. Digital freight forwarder Nowports reaches $1.1B valuation. Automate your investment strategy with recurring investments. Flexport founder and CEO Ryan Petersen Now the company has over 400 employees in seven offices. 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. He utilizes the OKRs system created by Intels Andy Grove and most famously used by Amazon. October 2019 acquired Crux Systems for an undisclosed amount. To view the presentation, or for more information about the 2023 Annual Meeting, please visit: www.VoteforPitneyBowes.com.Shareholders who have any questions or need assistance voting may contact . Fractional shares are illiquid outside of Public and not transferable. Analyst Briefing Submitters are 7x more likely to receive a qualified connection. Flexport's most recent revenue is from 2017. For Ergobaby, collaboration helps launch products. Buy fractional shares of fine art, collectibles, and more. Founder Ryan Petersen has positioned himself as shipping's savior, earning Flexport a new $8 billion valuation. When? CNBC's Hugh Son joins 'Squawk Box' to report the latest on JPMorgan's acquisition of First Republic. 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. 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. Flexport's mission is to fix the user experience in global trade and bring the world free trade through technology. Any container ship on the West Coast, I guarantee we are on there.. Third-party logistics, of which freight forwarding is a big part, amounts to nearly $1 trillion. 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. He appears sometimes uninformed, says Robert Khachatryan, who founded the 55-person freight forwarder Freight Right Global Logistics in greater Los Angeles in 2007. Apex Crypto is not a registered broker-dealer or a member of SIPC or FINRA. No money or other consideration is being solicited and, if sent in response, will not be accepted. 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. Seeing really is achieving. tracked annually for greater shipment visibility. Brokerage services for alternative assets available on Public are offered by Dalmore Group, LLC (Dalmore), member of FINRA & SIPC. 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. Over 2021, Flexport blew away its own projections, turning a surprise profit as revenue doubled. Access capital for logistics costs and focus on opportunity. Forward-Looking Statements of Pfizer Inc. Start Date . In 2013, when the company was founded, the freight industry largely functioned still via paper and faxes. But with the source of that money coming from customers paying through the nose and still facing shipping delays, Petersen wasnt celebrating. So when Thiel announced his public support for Donald Trump, who was championing big new China tariffs during his presidential campaign, Petersen committed a startup sin. There is a possibility of loss. In fact, in April 2020, CEO Petersen was quoted in a TechCrunch article as saying, Im just having fun. Schneberg has a bachelors degree in economics from Humboldt University of Berlin and an MBA from University of California, Berkeley. It is a licensed customs brokerage and freight forwarder built around a modern web application. Petersen has a bachelors degree in economics from University of California, Berkeley and received his MBA from Columbia University. 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. The company is a global freight forwarder and modern logistics platform whose goal is to fix and improve user experience in global trade. Their latest investment was in Portao3 as part of their Seed VC on January 1, 2023. Maybe The Metaverse Is Fun, Friendly, 8-Bit -- And Already Here, Biden's First Year: An Economic Scorecard. The above content provided and paid for by Public and is for general informational purposes only. Petersen is used to the sniping by now. Its investors include SoftBank Vision Fund (9984.T) and Shopify. 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. Their latest acquisition was Crux Systems on October 10, 2019. Flexport can utilize that data to determine whether it should invest in building out a new product line, enter a new customer vertical, or even just outright acquire the firm it invests in. T-bills are purchased at a discount to the par value and the T-bills yield represents the difference in price between the par value and the discount price. Aggregate funds in your Treasury Account in excess of the T-bill purchases will remain in your Treasury Account as cash. Flexport raises $935 million to boost resilience and visibility in global supply chains. Its easier to gain insight with data that is structured for success. There isnt a silver bullet for this.. This is a profile preview from the PitchBook Platform. Ryan preferred studying abroad in Spain and volunteering in El Salvador. You can read more about your. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. Its death by 1,000 cuts.. He quickly stood out. The following slide deck was published by Tango Therapeutics, Inc. in conjunction with this . An affiliate of Public may be testing the waters and considering making an offering of securities under Tier 2 of Regulation A. The cuts were also ineffective, crushing employee morale for minimal savings. As recently as 2020, Flexport did not seem to be exploring an IPO. It earns roughly 15 percent of the average $2,000 it costs to move a shipping container around the. 23, 2023 11:47 PM ET Tango Therapeutics, Inc. (TNGX) SA Transcripts. site you are consenting to these choices. Flexport is the company aiming to untangle those knots. (Reporting by Krystal Hu in New York; Editing by Leslie Adler), Over 40? There are six layers to how he evaluates whether he is successfully prioritizing and meeting clients needs: Petersen is proud of Flexports company culture and has worked hard to keep that culture intact even as it grows to keep pace with demand. JPMorgan has released a presentation for investors with more detail about its deal to buy the bulk of failed lender First Republic.
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flexport investor presentation