Monday, February 18, 2019

Shipping/Logistics: Softbank Is Reportedly Leading a $500 Million Round in Flexport

Flexport first came to our attention because they seemed to constantly be hiring.
Always an interesting characteristic for a company.
From Reuters

Flexport in talks to raise $500 million in SoftBank-led deal: Axios
Freight logistics provider Flexport Inc is in talks to raise around $500 million in a deal led by SoftBank Group Corp, news website Axios reported on Wednesday citing sources familiar with the matter.

Excluding the potential deal with SoftBank, Flexport could be valued around $3 billion, Axios said, citing one of the sources.

Flexport has raised nearly $305 million in funding over five rounds. Its latest financing round was in April 2018, according to data provider Crunchbase....MORE
No word from either company on a deal.
The Axios piece was just a blurb in a story on Saudi investments, Feb. 13:

Despite Khashoggi, Saudi Arabia unlikely to lose U.S. investments
...Driving the news: Axios has learned from multiple sources that San Francisco-based freight logistics startup Flexport is in talks to raise around $500 million in a SoftBank-led deal. One source puts the pre-money price talk at around $3 billion (another dissents), which could mean the final investment is smaller if either side becomes concerned about CFIUS approvals (which I'd think they would)....
Dec. 27, 2018 
Logistics: "The unsexiest trillion-dollar startup"
This is old news but the company has been on a hiring binge this year and we'll probably be referring back to this piece.
(yes, we still track who's hiring, old-school research)... 

December 18, 2017
Shipping: Freight Forwarder Flexport: "...Digitizing The Entire International Shipping Process"
Nov. 2, 2017 
"10 Startups Making Ocean Container Shipping Easier"
Dec. 2016 
"Truckers think automation won’t take their jobs for 40 years. Silicon Valley strongly disagrees."

Shipping: French Giant CMA CGM Looking to Expand Logistics Business with Investment in CEVA Logistics

Shipping: "CMA CGM Launches Offer to Buy the Rest of CEVA Logistics Shares" 
Back in October 2018 the FT's David Keohane was the first reporter we saw with the story on how French shipping major CMA CGM was positioning themselves to guarantee they would be relevant and a player in five years, with their desire for logistics and supply-chain mavens Ceva:...