Previously known as FreightWaves SONAR, the supply chain data platform rebrands to “SONAR,” highlighting its core focus on the supply chain data platform.
A year ago, FreightWaves, the leading media platform for global supply chains, and FreightWaves SONAR, the freight price reporting and supply chain data platform, were split into separate companies.
For the past year, the official name of the SONAR business was “FreightWaves SONAR.” Effective immediately, the name will be shortened and referred to exclusively as “SONAR” going forward.
SONAR is a freight price reporting agency and data platform that provides the most accurate and reliable freight rate and market analytics. Its mission is to offer high-frequency data across global supply chains, enabling market participants to benchmark, analyze, monitor and forecast freight rates and demand.
For the past year, the SONAR team has been working independently of the FreightWaves media team, providing data and information that empowers decision-makers. This mission differs from the FreightWaves media business, which focuses on delivering supply chain news and context.
“Increasingly, there is a need for a deeper understanding of the stories that go beyond the data. The FreightWaves media team must be able to do this. It is also equally important that the SONAR team provides market data uninfluenced by the stories that drive the success of the FreightWaves media business,” Craig Fuller, founder and CEO of FreightWaves, stated.
Julie Van de Kamp, chief customer officer of SONAR, added, “We feel that it’s necessary to ensure that the market understands that SONAR’s mission differs from FreightWaves’ media mission. FreightWaves media is built to provide news and context to the stories happening in the freight market, while SONAR’s mission is to provide data and analytics without bias. In other words, ‘The data should speak for itself.’”
In addition to rebranding, SONAR has created a website at gosonar.com, focusing exclusively on its data platform. The company will open a new corporate headquarters in January 2025 at the Liberty Tower, Chattanooga’s most luxurious commercial building. Firecrown, the parent company of FreightWaves, will assume SONAR’s existing headquarters at Freight Alley on Market Street in Chattanooga.
Firecrown will continue to invest in FreightWaves media and its other properties, which include FLYING, Yachting, Trains, Astronomy and AircraftforSale.com.