Business Analysis Report Draft

 Flexport

 Convoy

 Nextrucking
Website: https://www.flexport.com/
Facebook: https://www.facebook.com/flexportinc/
LinkedIn: https://www.linkedin.com/company/flexport
Twitter: https://twitter.com/flexport
Contact Email: [email protected]
Phone Number: (855) 353-9123

Headquarters Regions: San Francisco Bay Area, West Coast, Western US

Founded Date: Mar 1, 2013
Founder/s: Ryan Petersen
Number of Employees: 1350
Also Known As: Flexport International LLC
Legal Name: Flexport Inc.
IPO Status: Private
Company Type: For Profit

Flexport is a full-service global freight forwarder and logistics platform using modern software to fix the user experience in global
trade.
Flexport is a licensed customs brokerage and freight forwarder built around a modern web application. Its freight service includes
an online dashboard for businesses to easily understand, purchase, manage, and track the services required for global trade. Its
team of logistics experts let’s focus on core business by ensuring goods arrive at fulfillment/distribution centers on time and at
the lowest cost.

Flexport's mission is to fix the user experience in global trade and bring the world free trade through technology. The company
was founded in 2013 and is based in San Francisco, California. Flexport today serves more than 10,000 clients in over 100
countries, offering a full range of services, including ocean, air, truck and rail freight, drayage & cartage, warehousing, customs &
compliance, financing and insurance — all informed and powered by their software platform. Flexport has offices in San
Francisco (HQ), New York City, Los Angeles, Chicago, Atlanta, Seattle, Amsterdam, Hamburg, Hong Kong and Shenzhen (and
expanding rapidly). Also, have warehouses in Los Angeles, Shenzhen, Hong Kong and Shanghai.

Flexport has raised a total of $1.3B in funding over 6 rounds. Their latest funding was raised on Feb 21, 2019 from a Series
D round.

Announced Date Apr 1, 2014

Funding Type Series A
Funding Stage Early Stage Venture
Money Raised $6.9M
 Announced Date Aug 6, 2015
Closed On Date Aug 3, 2015
Funding Type Series A
Funding Stage Early Stage Venture
Money Raised $22.1M
Announced Date Sep 26, 2016
Funding Type Series B
Funding Stage Early Stage Venture
Money Raised $65M
Pre-Money Valuation $235M

Announced Date Sep 21, 2017

Funding Type Series C
Funding Stage Late Stage Venture
Money Raised $110M
Pre-Money Valuation $800M

Announced Date Apr 27, 2018

Funding Type Corporate Round
Money Raised $100M

Announced Date Feb 21, 2019

Funding Type Series D
Funding Stage Late Stage Venture
Money Raised $1B
Pre-Money Valuation $2.2B

Valuation
Share Price

Cumulative Funding
Lead Investments:

 Founders Fund
 DST Global
 SoftBank Vision Fund
 S.F. Express

Number of Investors: 63

Acquisitions

Flexport has acquired 2 Fieldbook and Crux Systems,A Flexport Company organizations. Their most recent acquisition was Crux
Systems, A Flexport Company on Oct 14, 2019.

Web Traffic by SimilarWeb

Monthly Visits 308,547 Monthly Visits Growth 5.79%

Country Share of Monthly Monthly Visits Site's Rank in Country Monthly Rank Growth
Visits Growth
United States 47% 1.18% 34,538 15.34%
Canada 6% 7% 32,693 19.04%
China 6% 45.49% 231,063 -24.61%
The Netherlands 2% -41.92% 27,784 13.01%
India 2% -0.8% 102,388 -10.43%

Engagement

Global Traffic Rank 124,441 Monthly Rank Growth 4.71%

Visit Duration 314 Visit Duration Growth -12.73%
Page Views / Visit 4.79 Page Views / Visit Growth -23.39%
Bounce Rate 48.95% Bounce Rate Growth 0.68%

Competitors & Revenue by Owler

Owler Estimated Revenue $224.8M

Number of Competitors 3

Flexport has $224.8M in estimated revenue annually. Flexport competes with iContainers, FreightHub, and Freightos.

Competitors and Revenue

iContainers - $5.5M
iContainers is an online platform that helps users find quotes for ocean and air freight including FCL and LCL shipping and
groupage.

FreightHub- $6M
FreightHub is an online freight network platform that allows users to check freight prices, book shipments and manage
inventories.

Freightos- $5.5M
Freightos is a SaaS-based freight automation platform that allows users book, manage and track shipments.
 Current Team
 Number of Current Team Members 20
Flexport has 20 current team members, including CEO and Founder Ryan Petersen.

 Board Members and Advisors

Number of Board Members / Advisors 4
Flexport has 4 board members and advisors, including Anja Manuel.

Locations
 Primary
760 Market Street
#800
San Francisco, California 94102, US

 1 Sunning Road
Unit 602, 6/F, Lee Garden 3
Causeway Bay, - -, HK

 12181 Bluff Creek Dr

Playa Vista, California 90094, US

 600 Peachtree St NE
Atlanta, Georgia 30308, US

 Axel-Springer-Platz 3
Hamburg, Germany 20355, DE

 370 N Carpenter St
Chicago, Illinois 60607, US

 111 W 19th St
New York, New York 10011, US

 Vijzelstraat 68
Amsterdam, North Holland 1017, NL

 23/F, Greater China International Trade Plaza Fuhua Road

Room 2302A
Futian District, Shenzhen -, CN

 1411 4th Ave

Seattle, Washington 98101, US
Website: convoy.com
Facebook: View on Facebook
LinkedIn: View on LinkedIn
Twitter: View on Twitter
Contact Email: [email protected]
Phone Number: 1(855)526-6869

Headquarters Regions: Greater Seattle Area, West Coast, Western US

Founded Date: 2015
Founders: Dan Lewis, Grant Goodale
Operating Status: Active
Funding Status: Late Stage Venture
Last Funding Type: Series D
Number of Employees: 501-1000
Legal Name: Convoy Inc
IPO Status: Private
Company Type: For Profit

Convoy is the most efficient digital freight network. Convoy is the most efficient digital freight network. Connect shippers to
carriers to move millions of truckloads, saving money for shippers, reducing hassle for carriers, and eliminating carbon waste for
our planet. Use technology and data to solve problems of waste and inefficiency in the $800B trucking industry, which generates
over 76M metric tons of wasted CO2 emissions from empty trucks. Shippers like Anheuser-Busch, CHEP, and Waiakea trust
Convoy to lower costs, increase logistics efficiency, and achieve environmental sustainability targets.

Together with investors, Generation Investment Management, T. Rowe Price Associates, Inc., Greylock Partners, Y
Combinator, CapitalG, Lone Pine Capital, Cascade Investment (the private investment vehicle of William H. Gates III),
U2’s Bono and The Edge, Salesforce.com CEO Marc Benioff, former Starbucks President Howard Behar, Code.org
founders Hadi and Ali Partovi, Jeff Bezos via Bezos Expeditions and former U.S Senator Bill Bradley — amongst others,
they believe they can influence the industry and build a more sustainable future.

Today, Convoy is leading that transformation with the most efficient digital freight network in the industry.

The foundation of our network is an open and fully connected marketplace of shippers and carriers driven via
automation and supported by a broad, ever-growing set of shipper and carrier capabilities.

That fully connected marketplace grows through the momentum of our flywheel. As more shippers join the network,
drivers have better options, fewer empty miles, and fewer wasted hours, allowing them to earn more per day. As more
carriers join the network, capacity increases and shippers see lower prices per mile and higher quality. In addition, as
the network grows, insights emerge from the data that help shippers and carriers improve their businesses.
Convoy’s technology is already reducing carbon emissions by connecting shipments more effectively. Through
Automated Reloads, we automatically optimize how loads can be grouped in real-time by understanding each carrier’s
unique preferences, hours-of-service availability and driver locations. Bidding their preferred rates on these pre-
planned combinations (also referred to as “batches”) guarantees that carriers spend less time looking for work or
driving empty, thus reducing carbon pollutants into our environment from when trucks run empty.
Convoy’s Automated Reloads program reduces empty miles from the industry standard of 35% to 19% by bundling
shipments. If the entire industry were to achieve the same efficiency, it would lower CO 2 emissions by 32 million metric
tons, equivalent to taking 6.9 million passenger vehicles off the roads for a year. Today’s announcement reflects a 45%
reduction in empty miles on average for carriers hauling Automated Reloads

Today, 74% of S&P 500 companies have corporate environmental impact goals specific to sustainability and carbon
reduction. Progress against these goals has historically come from places outside the shipping supply chain, such as
investing in renewable energy or reducing excess packaging. Aligned with our mission to reduce waste, Convoy has
become a key partner to companies like Waiākea, CHEP, and Anheuser -Busch in achieving their sustainability targets .
Convoy has raised a total of $665.5M in funding over 6 rounds. Their latest funding was raised on Nov 13, 2019 from a Series
D round.

Announced Date Oct 26, 2015

Funding Type Seed
Funding Stage Seed
Money Raised $2.5M

Oct 26, 2015- Seed Round - Convoy: TechCrunch — Convoy, A Smart Logistics Service For Regional Trucking Businesses,
Raises $2.5M
Announced Date Mar 23, 2016
Funding Type Series A
Funding Stage Early Stage Venture
Money Raised $16M

Mar 25, 2016- Series A - Convoy: Nibletz - Voice of Startups — On-demand trucking company Convoy raised $16M
Mar 23, 2016- Series A - Convoy: Business Wire — Convoy Raises $16 Million Series A Led by Greylock Partners
Announced Date Jul 25, 2017
Funding Type Series B
Funding Stage Early Stage Venture
Money Raised $62M

Jul 25, 2017- Series B - Convoy: Venture Beat — Convoy raises $62.5 million for on-demand platform that connects shippers
with truckers
Announced Date Sep 21, 2018
Funding Type Series C
Funding Stage Late Stage Venture
Money Raised $185M
Pre-Money Valuation $815M
Sep 21, 2018- Series C - Convoy: FinSMEs — Convoy Raises $185M in Funding led by CapitalG
Announced Date Nov 13, 2019
Funding Type Series D
Funding Stage Late Stage Venture
Money Raised $400M
Pre-Money Valuation $2.4B
Valuation

Share Price
Cumulative Funding

Lead Investors: 5

 T. Rowe Price
 Y Combinator
 Generation Investment Management
 Greylock Partners
 CapitalG

Number of Investors: 40
Web Traffic by SimilarWeb

Monthly Visits 200,601 Monthly Visits Growth -8.9%

Convoy is ranked 144,813 among websites globally based on its 200,601 monthly web visitors.
Country Share of Monthly Monthly Visits Growth Site's Rank in Country Monthly Rank Growth
Visits
United States 74% -4.45% 29,547 3.74%
Philippines 2% -6.75% 11,887 20.86%
Serbia 2% 134.49% 16,639 -54.91%
Canada 1% 5.05% 296,134 0.27%
Russian Federation 0% -8.28% 594,947 2.09%

Engagement

Global Traffic Rank 144,813 Monthly Rank Growth 8.1%

Visit Duration 1,148 Visit Duration Growth -5.57%
Page Views / Visit 10.33 Page Views / Visit Growth -10.58%
Bounce Rate 34.4% Bounce Rate Growth -3.97%

Competitors & Revenue by Owler

Convoy has $85M in estimated revenue annually. Convoy competes with Buddytruk and GoShare.

Owler Estimated Revenue $85M

Number of Competitors 2

 Buddytruk- $3M,
Buddytruk develops a mobile application that provides vehicle hauling and transportation services.
 GoShare- $3.5M,
GoShare is a mobile application that helps users to book trucks for moving, hauling and cargo delivering services.

Current Team
 Number of Current Team Members 13
Convoy has 13 current team members, including CEO and Co-Founder Dan Lewis.

Board Members and Advisors

 Number of Board Members / Advisors 6
Convoy has 6 board members and advisors, including Reid Hoffman.
Website: www.nexttrucking.com/
Facebook: https://www.facebook.com/nexttrucking
LinkedIn: https://www.linkedin.com/company/next-trucking
Twitter: https://twitter.com/nexttrucking
Contact Email: [email protected]
Phone Number: (855) 688-6398

Headquarters Regions: Greater Los Angeles Area, West Coast, Western US

Founded Date: Oct 18, 2015
Founders: Elton Chung, Lidia Yan
Operating Status: Active
Funding Status: Late Stage Venture
Last Funding Type: Series C
Number of Employees: 101-250
Legal Name: NEXT Trucking Inc.
IPO Status: Private
Company Type: For Profit

NEXT Trucking is a technology platform connecting shippers with owner/operators and small fleets.
It is building smart technology that matches truck drivers to their preferred loads, addressing the problem of carrier capacity. The
company combines a freight marketplace with over 16,000 drivers, company-owned assets, and strategic partnerships to provide
customers with an unrivaled suite of services from OTR to drayage and warehousing.

NEXT Trucking was founded in 2015 and is based in Lynwood, California.

Through complete first-to-last mile solutions, defining how FreightTech can transform the $800B trucking and shipping industry.
From digital freight marketplace to smart load-matching, NEXT Trucking technology provides shippers with access to limitless
capacity and full transparency, while empowering drivers to work the way they want, when they want. As we build the most
trusted brand for customers, NEXT Trucking are creating the best place to work for the growing team of top talent from the tech
and logistics industries. NEXT Trucking have been recognized as one of Built in LA’s Best Small Companies to Work For and 50
Startups to Watch. Founded in 2015, NEXT Trucking is backed by Brookfield Ventures, one of the world’s largest infrastructure
investors, and Sequoia Capital, one of the most recognizable venture capital firms in the world.

NEXT Trucking has raised a total of $124.3M in funding over 5 rounds. Their latest funding was raised on Jan 23, 2019 from
a Series C round.

Announced Date Dec 10, 2015

Funding Type Angel
Funding Stage Seed
Money Raised $160K

Announced Date Feb 20, 2016

Funding Type Seed
 Funding Stage Seed
Money Raised $1.1M

Announced Date Mar 15, 2017

Funding Type Series A
Funding Stage Early Stage Venture
Money Raised $5M

Announced Date Jan 30, 2018

Funding Type Series B
Funding Stage Early Stage Venture
Money Raised $21M

Jan 30, 2018, Series B - NEXT Trucking: Venture Beat — Sequoia leads $21 million raise to help Next Trucking match carriers
with shippers
Announced Date Jan 23, 2019
Funding Type Series C
Funding Stage Late Stage Venture
Money Raised $97M
Pre-Money Valuation $403M
Jul 16, 2019, Series C - NEXT Trucking: Forbes — The Roads Less Traveled: NEXT Trucking's Path To A Lucrative Niche—And A
$500 Million Valuation

Number of Lead Investors 2

 Sequoia Capital
 Brookfield Asset Management
Number of Investors 9

Web Traffic by SimilarWeb

Monthly Visits 55,335 Monthly Visits Growth -29.96%

NEXT Trucking is ranked 340,138 among websites globally based on its 55,335 monthly web visitors.
Country Share of Monthly Monthly Visits Growth Site's Rank in Monthly Rank
Visits Country Growth
China 78% -22.17% 71,780 9.79%
United States 14% -34.49% 295,734 35.24%
India 0% -66.17% 1,572,038 158.64%
Singapore 0% -49.41% 221,361 -23.19%
Japan 0% — 880,444

Engagement

Global Traffic Rank 340,138 Monthly Rank Growth 13.68%

Visit Duration 1,138 Visit Duration Growth 53.05%
Page Views / Visit 18.3 Page Views / Visit Growth 49.34%
Bounce Rate 20.23% Bounce Rate Growth -10.89%

Competitors & Revenue by Owler

Owler Estimated Revenue $6.3M

Number of Competitors 7
NEXT Trucking has $6.3M in estimated revenue annually. NEXT Trucking competes with Transfix, Quicargo, and Doft.
Competitors and Revenue

 Transfix $75M
Transfix provides a mobile application that matches shipments with truck drivers based on real-time location.
 Quicargo $2.5M
Quicargo is an online platform that connects businesses with carriers for booking unutilized truck loading spaces and
track shipments.
 Doft #3M
Doft is an on-demand trucking platform that matches truck carriers with shippers based on availabilities, routes and
rates.

Current Team
 Number of Current Team Members 6
NEXT Trucking has 6 current team members, including Founder and Chief Revenue Officer Elton Chung.
 Number of Board Members / Advisors 1
NEXT Trucking has 1 board member or advisor, Omar Hamoui.
References:
https://www.crunchbase.com/organization/flexport#section-overview
https://ph.linkedin.com/company/flexport
https://www.flexport.com/leadership
https://www.crunchbase.com/organization/convoy-3#section-overview
https://www.crunchbase.com/organization/next-trucking
https://www.linkedin.com/company/next-trucking