Every problem presents you with the opportunity. If you can come with solution to the problem, there is an opportunity for you to start a business. Flexport is the example of one such startup, let’s find more about the company
Ryan Peterson while managing the supply chain for his brother saw the problem in the freight industry. His main concern was that consumer had no idea about where the product is and how much you’re going to pay for it. So he decided to open freight startup called Flexport.
Flexport is a freight forwarding and customs brokerage company based in San Francisco, California. It was founded in 2013 and since then providing its service.
Flexport allows businesses track their cargo online in real time. Starting flexport was not easy for Ryan; he had to first get licensed by the Department of Homeland Security that required an FBI background investigation on Ryan himself.
Flexport provides visibility and control, via the web, over the products which are being shipped. The main goal of the company is to give customers much more of an understanding of where products are, how much they’re going to pay, and where those items will be delivered.
Flexport is putting the importer back in control of their inventory while it’s on the move.The company first funding came from Y Combinator and then from Google Ventures. It took company three and half years to get revenue.
The main advantage flexport have over their competitors is that their competitors are not internet friendly company. Most of their competitors were founded in the 1990s.
Nowadays online eyeglasses retailer Warby Parker, sneaker company Allbirds, and paper manufacturing giant Georgia-Pacific all use Flexport to transport their goods, as do thousands of Amazon merchants. Flexport has raised total of $304 million in funding till date. And flexport is one of the fastest growing freight companies which make it as the one of the startups to look forward to.