Dan Lewis, co-founder and former CEO of Convoy Inc., discussed the rise and fall of the digital freight brokerage he helped create and the lessons he learned along the way on Tuesday at FreightWaves’ F3: Future of Freight Festival.
Convoy and OTR Solutions have issued a joint statement saying that the situation has been resolved.
The freight market downturn has made profitability elusive.
After experiencing record sales growth during the COVID-19 pandemic, digital freight brokerage Surge Transportation says it was forced to file for bankruptcy protection as it was unprepared for the abrupt decline in product demand and soaring shipping costs that rocked the transportation industry in April 2022.
Digital freight marketplace NEXT Trucking is on the prowl for either additional capital or an exit.
Flexport has taken another step toward simplifying international freight transportation from manufacturing to e-commerce storefront.
By the end of the week, Convoy carriers will be able to receive instant bid feedback on 98% of company-sourced loads.
Werner’s senior vice president discusses how technology impacts brokers and truck drivers during FreightWaves’ Small Fleet & Owner-Operator Summit.
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Amazon Freight positioned to sneak its way into the brokerage world, Flock Freight’s unicorn status achievements, and how much is sitting off the coast of LA and Long Beach?
“At Uber, we get to build on the shoulders of giants,” said Val Marchevsky, Uber Freight’s new head of logistics tech.
Last week’s Transfix, project44 and Emerge deals herald a maturing FreightTech space.
“We have to compete in a marketplace where my competitors don’t even have to be profitable.”
The desktop and mobile versions of the carrier portal will launch in mid-July, while the app will be released later in Q3.
Convoy Go is now available for backup and spot loads.
“With this investment, we’re able to add even greater resources to the pursuit of our mission: to make our customers’ supply chains their competitive advantage.”
On Wednesday, the company reported Q4 earnings and 208% of year-over-year growth.
Now carriers can see max bids and auction closing times on offered loads.
New capital at newtrul will enable expansion of the supplier base to support growing demand, feature enhancements, APIs and TMS integrations.
Berlin-based digital freight brokerage Sennder closed a $160 million series, exceeding a $1 billion valuation.
Uber’s stock dips on a report that Goldman Sachs is looking to unload 38 million shares. The company has made several moves recently to shore up the balance sheet and sustain its cash-intensive brokerage segment.
Third-party logistics provider FitzMark announces its third brokerage acquisition of the year and fourth in the past two years.
newtrul, a freight aggregation platform, has announced an integration with McLeod Software’s PowerBroker platform.
The partnership will give shippers access to smaller trucking operators.
BlackRock leads a Series C round in the digital freight company, with participation from TFI International and Maersk
Convoy co-founder and CEO Dan Lewis sat down with FreightWaves to discuss the unusual freight market that has dominated 2020 and the future of Convoy.
Emerge has announced Book It Now, a feature that allows carriers to instantly book freight from its Digital Freight Marketplace without the hassles of negotiation.
Loadsmart has added less-than-truckload (LTL) and rail services as the digital freight brokerage continues to expand its multimodal offerings. The expansion, announced Tuesday, allows customers to book shipments across all major transportation modes, building on existing capabilities for truckload, port drayage and transload. “Loadsmart is now a one-stop-shop logistics solution for domestic freight,” said Felipe […]
Digitalization is giving freight-industry participants the flexibility they need to deal with the COVID-heightened pace of change.
The fleet management solution is Transfix’s first foray into a pure software product.
In today’s edition of The Daily Dash, electric driveline manufacturer Hyliion officially became a public company on Friday. Plus, Uber Freight secures $500 million in funding and trucking’s recovery continued in September.
‘Game on’ for Uber Freight.
Downloads of XPO’s driver app Drive XPO have doubled this year, and more than 25,000 carriers have joined its XPO Connect platform as both technologies have seen rapid growth.
sennder is now unquestionably the leading digital freight brokerage in Europe.
Forty percent of Edge’s volume year-to-date has run through its digital matching platform CAPACITY.
Mark Okerstrom says, “Though they are different in many respects, at their core both Convoy and Expedia are technology-enabled marketplaces.”
C.H. Robinson has added integrations with 19 TMS/ERP systems to its Navisphere platform, giving customers easy access to real-time pricing and capacity assurance tools.
Cargo Chief has added new functionality for brokers using its C4 platform, allowing them to identify potential load opportunities.
The digitalization of freight has logistics providers seeking automation and efficiency on a scale never before seen.
Adapting to customers’ and carriers’ needs through innovation is key to the continued growth of J.B. Hunt’s 360 digital freight marketplace platform.
A look into a market share report from UBS.
Driegert said that shipper expectations for technology and speed of execution have irrevocably shifted.
Growth at Uber Freight took a pause in Q1 while the digital brokerage trimmed losses.
Convoy built data-driven tools to be more fluid and responsive.
API integrations with shippers and carrier density were key.
Digital freight brokerage Transfix laid off about 10% of its staff on Tuesday
Cargo X is Brazil’s largest digital freight marketplace, connecting about 20,000 carriers and their 400,000 truckers with freight.
Shen was previously chief operating officer and president.
Simplicity — Coyote’s guiding philosophy in its quest to make the diverse marketplace easier to access regardless of the end user — has served the company well. After its founding in 2006, Coyote had quite a decade. By 2014, it was large enough to acquire Access America for an estimated $260 million, and by the […]
KeepTruckin is shutting down OPL after less than a year in order to create a neutral freight marketplace.
Knight-Swift Logistics will be part of a pilot program that will test DAT Solutions’ new Book Now automated freight tendering solution.
FreightRoll is a trade documentation and tracking platform that enables companies to digitalize paper documents from their freight operations.
Sendengo is a digital freight brokerage that enables users to control transactions and helps reduce cargo theft.
Capacity is a proof of concept for smaller brokerages building out their own freight-matching platforms.
Christenson will focus on scaling UF Europe “at speed and responsibly.”
With companies like Convoy achieving a $1 billion valuation in roughly four years, or publicly-traded companies like Uber and Amazon encroaching on the brokerage space, it is getting harder for the smaller, “relationship-based” brokers to compete. Whether it’s managed transportation, trailer pooling, warehousing or last-mile, brokers should be looking for ways to increase their value, […]
Charley Dehoney writes about the founding of GlobalTranz and the companies that were begun by “alumni” of the “GlobalTranz Mafia.”
Supply chain solutions major J.B. Hunt finished fourth on the FreightTech 25 list, thanks to its efforts in digitalizing freight matching and democratizing access across carriers of all sizes.
According to CEO, the biggest problems freight brokers face are visibility and ‘one-load wonders.’
KNX is hiring brokers and full-stack developers for the new office.
Over the past two and a half years, Uber Freight, the freight brokerage division of Uber Technologies (NYSE: UBER), has already proven itself capable in two key areas for young technology companies: growing revenue fast and shipping new products at a rapid clip. Powerloop’s trailer pool, the continuous moves Uber Freight calls “bundles,” international versions […]
French freight matching startup FretLink has introduced new carrier-centric features in collaboration with equipment provider TIP and fuel card player UTA.
Freightquote by C.H. Robinson brings Robinson’s information advantage, capacity, and technology to small businesses.
FreightWaves CEO Craig Fuller and Dynamo Ventures partner Jon Bradford shared their insights and opinions on the digital freight brokerage industry and its investors.
The Uberization of Freight has come to mean many things, but to Uber Freight Senior Director Bill Driegert, it means relieving pain points for carriers and shippers.
The future of freight brokerage is a renewed focus on people.
McElroy wants to see a more efficient brokerage industry. He believes competition is promoting that.
Lorin Seeks, Convoy’s director of quality and compliance, spent nine years leading logistics as a captain in the U.S. Army Transportation Corps.
On October 29, Bloomberg published an article by Dina Bass, “The ‘Uber for Trucking’ Tries to Navigate Some Uber-Scale Problems.” That was followed by Craig Fuller’s article, Is winter coming for the super-hot FreightTech space?, which ran in FreightWaves on November 3. It would be worth it to read both articles if you have any […]
French freight technology startup Everoad has forged a strategic partnership with French mass-retailer Groupe Casino to help digitalize its supply chain.
Bill Driegert discussed both the Canadian and Polish expansions.
InstaFreight is a digital forwarding company that enables seamless logistics and provides shippers with greater visibility into road freight movement.
Venture capital investment in the logistics sector has seen a steady rise in the last decade and shows no signs of abating in the near future.
Executives from Parade, CoLane, Forager, and Trucker Tools discussed the current state and future of brokerage digitization.
J.B. Hunt Transport Services reports earnings light of expectations, but cost headwinds from digital platform transformation appear to be the primary culprits.
Larger shippers must think beyond the short-term peaks and valleys.
Traditional freight brokerages are ramping up technological spending to keep pace with the industry.
The drop trailer pool expands to Los Angeles while Bundles will be nationwide.
Brian Laung Aoaeh discusses innovation, technology, and disruption in the freight brokerage market.
The move signals the shift from a tech startup to a mature logistics operation.
A round at this valuation puts Convoy one step closer to an IPO.
Uber Freight makes it a point to meet drivers and carriers where they are.
McLeod built automated pricing for contract and spot and digital load matching products.
Digital freight brokers continue to add services in the pursuit of carrier stickiness.
Digital freight brokerage LoadSmart and self-driving startup Starsky Robotics announced they have successfully priced, booked and delivered two loads of freight without human intervention.
Ben Thrower writes about nearshoring manufacturing, which has gone on for decades. He also writes about the potential for nearshoring services, a new opportunity for both U.S. and Latin American businesses.
Charley Dehoney has written about the growth of digital freight brokerages and what they bring to the market and the industry.
In March and April, Amazon handled 45 percent of its own packages.
A few months after launching the Facility Ratings feature in its app, Uber Freight has published its first Facility Insights Report, a compendium and analysis of carriers’ ratings of shipper facilities that will be released on a regular cadence. Digital freight brokerage apps continue to roll out new features and services to drive carrier engagement. […]
The good news is that Evan Armstrong of Armstrong & Associates thinks that U.S. third-party logistics providers’ (3PLs) revenues will grow at a 7.7 percent compound annual growth rate (CAGR) over the next five years, and brokers will become more productive as artificial intelligence automates up to 50 percent of their repetitive tasks. The bad […]
Transfix, the venture capital-backed digital freight marketplace based in New York City, announced that Ahmad El-Dardiry joined the company as its new chief revenue officer. El-Dardiry comes to Transfix from a 19-year stint at Intel Corporation, where most recently he managed cloud computing, memory and storage enterprise sales in the Americas, Asia and global industry […]
Amazon could build a zero-margin equivalent of C.H. Robinson inside the ‘shipping costs’ line on its P&L without anyone noticing.
Amazon could build a zero-margin equivalent of C.H. Robinson inside the ‘shipping costs’ line on its P&L without anyone noticing.
Technology is disrupting the logistics industry at a breakneck pace, and brokerages are not exempt from the changes. While new technologies are intended to help companies run smoother, the implementation process can be riddled with challenges.
Transfix is betting that its carriers care more about asset utilization than rate per mile.
Insurgent digital brokerage apps are increasing their share of downloads while load boards are largely stagnant.
In partnership with Redwood Logistics… we spoke to Michael Johnson, the architect of Strive Logistics’ LoadRunner matching and pricing engine.
Telematics is projected to triple by 2025.
The feature is intended to save carriers time and money that they would spend searching for and booking loads.
Trucking-as-a-service is poised to break out into 5x growth over the next five years, says Frost & Sullivan.
