Brian Laung Aoaeh, CFA’s Post

Supply Chain Tech Startups Consolidation Continues CDL acquires NEXT! Combining 2 digital freight brokers capabilities in the US market, following the shutdown of Convoy, this is a space where it will be hard to raise money. Getting to profitability will be critical.

Undoubtedly, the future of transportation is upon us with innovations and disruptions in every corner. One company steering this change is Optimance Transport. In our latest article, "Is Door-to-Door Auto Shipping Changing the Future of Transportation Industry?" we highlighted how this efficient and personalized shipping transport service, founded by visionary leaders, is transforming the industry and setting new standards for vehicle transportation. How exactly are they doing this? Click the link below to find out! 🚗💨 https://lnkd.in/ePBs9CfF Be sure to follow Optimance Transport to keep up on their journey and learn more about where the transportation industry is heading. #Innovation #Transportation #StartUp #AutoShipping #DoorToDoor #FutureOfTransportation #Disruption #StartupBubbl

The trucking industry is facing unprecedented challenges, with many companies unfortunately having to make tough decisions. At Sureway we recognize these difficult times, and we're here to stay. While some may not weather this storm, we want to assure our partners and clients that Sureway is here for the long haul. We are committed to your success and are ready to navigate the challenges alongside you. In uncertain times, count on Sureway for reliability, stability, and unwavering support. #TruckingIndustry #StayingStrong #SurewayTransportationSWFL

Convoy Trucking Startup, Backed By Jeff Bezos and Bill Gates, Is Closing Operation With No Buyer: Ty Roush reports via Forbes: Convoy, a Seattle-based digital freight booker with investors that include billionaires Bill Gates and Jeff Bezos, announced Thursday it would be shutting down, according to Bloomberg, after the company failed to find a buyer amid a "massive freight recession." Convoy's founder and chief executive Dan Lewis notified employees in an internal memo Thursday that "today is your last day at the company," noting the company is "exploring and evaluating strategic options for what might come next," Bloomberg reported. Lewis said the company had evaluated potential suitors to acquire it, though "none of the options ultimately materialized into anything sufficient to keep the company going in its then current form." Convoy was in "the middle of a massive freight recession and a contraction in the capital markets," according to Lewis, who added "this combination ultimately crushed our progress" and likely swayed potential suitors away from acquiring the firm. "Following an exhaustive process, spanning many, many months during which we explored all viable strategic options for the business, the result is where we are today," Lewis wrote. Convoy was founded in 2015 in an effort to prevent trucks from driving "empty miles" without loads. The idea was to use technology to make freight more efficient by connecting truck drivers with freight companies -- reducing shippers' costs, increasing carriers' earnings, and eliminating carbon emissions in the process. Read more of this story at Slashdot.

Convoy Trucking Startup, Backed By Jeff Bezos and Bill Gates, Is Closing Operation With No Buyer: Ty Roush reports via Forbes: Convoy, a Seattle-based digital freight booker with investors that include billionaires Bill Gates and Jeff Bezos, announced Thursday it would be shutting down, according to Bloomberg, after the company failed to find a buyer amid a "massive freight recession." Convoy's founder and chief executive Dan Lewis notified employees in an internal memo Thursday that "today is your last day at the company," noting the company is "exploring and evaluating strategic options for what might come next," Bloomberg reported. Lewis said the company had evaluated potential suitors to acquire it, though "none of the options ultimately materialized into anything sufficient to keep the company going in its then current form." Convoy was in "the middle of a massive freight recession and a contraction in the capital markets," according to Lewis, who added "this combination ultimately crushed our progress" and likely swayed potential suitors away from acquiring the firm. "Following an exhaustive process, spanning many, many months during which we explored all viable strategic options for the business, the result is where we are today," Lewis wrote. Convoy was founded in 2015 in an effort to prevent trucks from driving "empty miles" without loads. The idea was to use technology to make freight more efficient by connecting truck drivers with freight companies -- reducing shippers' costs, increasing carriers' earnings, and eliminating carbon emissions in the process. Read more of this story at Slashdot.

Convoy Trucking Startup, Backed By Jeff Bezos and Bill Gates, Is Closing Operation With No Buyer: Ty Roush reports via Forbes: Convoy, a Seattle-based digital freight booker with investors that include billionaires Bill Gates and Jeff Bezos, announced Thursday it would be shutting down, according to Bloomberg, after the company failed to find a buyer amid a "massive freight recession." Convoy's founder and chief executive Dan Lewis notified employees in an internal memo Thursday that "today is your last day at the company," noting the company is "exploring and evaluating strategic options for what might come next," Bloomberg reported. Lewis said the company had evaluated potential suitors to acquire it, though "none of the options ultimately materialized into anything sufficient to keep the company going in its then current form." Convoy was in "the middle of a massive freight recession and a contraction in the capital markets," according to Lewis, who added "this combination ultimately crushed our progress" and likely swayed potential suitors away from acquiring the firm. "Following an exhaustive process, spanning many, many months during which we explored all viable strategic options for the business, the result is where we are today," Lewis wrote. Convoy was founded in 2015 in an effort to prevent trucks from driving "empty miles" without loads. The idea was to use technology to make freight more efficient by connecting truck drivers with freight companies -- reducing shippers' costs, increasing carriers' earnings, and eliminating carbon emissions in the process. Read more of this story at Slashdot.

Hot off the press - Accion Venture Lab has backed the strong team at Channel19 with participation in their $2.7M Seed round! 🌱 This team has identified fundamental cash flow and operational challenges faced by small trucking enterprises (fleets of <10 trucks), which make up more than 95%(!!!) of the US transport market. These challenges are particularly acute for refrigerated trucking enterprises which must manage the tricky added dimension of proper temperature control, vital to protecting their assets. To solve for this, Tony Singh and Duane Moore have built a solution perfectly tailored to refrigerated trucking SMBs which bundles lead gen and booking management, route optimization, temperature management, and cash flow acceleration all-in-one. We love this digitally enabled, highly verticalized approach to an analogue and fragmented segment of a market powered predominantly by minority operators. Not to mention an interesting linkage to climate resilience, as driving toward greater energy efficiency and reduced waste of perishable goods is core to the Ch19 model. Watch out for this team! 🚚 💨 & congrats to my colleague Liza Curcio-Rudy - great work! 🤝 https://lnkd.in/eEGeKH2E

A phenomenal read. #Tech is a means to an end and not an end in and of itself. While the efficiencies gained through Convoy's tech are laudable, successfully monetizing them to generate superior returns ran smack into the state of near-perfect competition of the industry. Successful trucking companies, asset-heavy or asset-light, have and will always rely on #relationships with #shippers first, judicious #lane management second, precise #fleet configuration third, and finally, tech in #support of the first three.

The Box, How the Shipping Container Made the World Smaller and the World Economy Bigger You might wonder how a book on shipping containers fits into a startup blog. Despite its historical angle on maritime logistics, "The Box" offers rich insights into how a simple idea—standardizing shipping containers—can radically alter entire economic landscapes. #change #startup