Written by Benjamin Gordon In the race to digitize the truck brokerage market, will the winner be an incumbent or a challenger? The upside is enormous. Trucking is a $734 billion market. Truckload and less-than-truckload revenue constitute close to $400 billion. If 20% of that market is outsourced, then truck brokerage spending totals $80 billion. …
Digital Freight: The Race to Automate Truck Brokerage Read More »
New technologies are changing the way the freight brokerage industry performs day-to-day operations. (Image: Jim Allen/FreightWaves) New technologies are changing the way the freight brokerage industry performs day-to-day operations. For the past several years it has been the consensus in the industry that the freight brokerage market is headed in the direction of doing everything …
Amazon.com Inc. is pushing deeper into logistics as it tries to tamp down transportation costs ahead of a pricey push into one-day shipping, raising potential concerns for freight operators that may end up competing for business with the e-commerce giant that many count as a significant customer. The online retailer has opened an online freight …
Amazon’s Freight Push Rattles Logistics Sector – WSJ – By Jennifer Smith Read More »
Employees at C.H. Robinson. (Photo courtesy of Steven A. Smith) When financier Brad Jacobs launched his bid to consolidate the logistics industry in 2011, he set into motion a process that continues to reshape the industry today. But now there are other business strategies in play with the potential to disrupt the business and spur …
By Jennifer Smith Private-equity firms bought two big freight-services providers in separate deals announced Wednesday, the latest in a string of investments in businesses that help manage the flow of goods through supply chains. Iconiq Capital LLC acquired a majority stake in Internet Truckstop Group LLC, whose Truckstop.com online freight marketplace connects shippers with available …
Private-Equity Firms Buy Trucking Freight Services Companies – WSJ – By Jennifer Smith Read More »
XPO Logistics Inc. Faced with a challenging freight business environment and growing e-commerce, XPO Logistics Inc. said it will add two new technology platforms, a cloud-based marketplace in Europe and a labor-productivity tracking system in at least 200 warehouses. The goal is to maximize decision-making, enhance customer options and insert efficiencies into every transaction, using …
Seattle-based Convoy, a digital freight technology-enabled network, recently announced it secured $185 million in Series C funding. The company said the round of funding was led by the growth equity investment fund of Google’s parent Alphabet City, CapitalG. With this funding, Convoy said that the amount of total capital it has raised now stands at …
Digital freight-booking startup Convoy raised $185 million in a funding round led by an investment arm of Google parent company Alphabet Inc., GOOG 0.76% adding big new backing for the company competing in an increasingly crowded field trying to reshape U.S. shipping operations. The funding round led by Alphabet’s CapitalG, one of the biggest investments …
It’s a good time for 3PLs when capacity is tight and supply chains are speeding up. The global third-party logistics market is on track to exceed $1.1 trillion in 2022. That’s 10 percent of global logistics costs, according to consultants Armstrong & Associates, and a leap from the $802 billion recorded in 2016. Armstrong …
Chaos is good for third-party logistics providers – FreightWaves – Chris Dupin Read More »
Big trucking companies, scrambling along with their customers to keep up with fast-growing U.S. economic demand, are plowing millions of dollars into technology to build up services as digital freight middlemen. The growing investment in online freight brokerage is aimed at building on operations many truckers have used to supplement their core transportation businesses, even …
Truckers Get Digital in Search for Big Rigs – WSJ – By Jennifer Smith Read More »
