Reported 1 day ago
Flexport forecasts profitability in 2025 primarily due to the sale of its Convoy freight-matching platform for $250 million, a strategic move to enhance its growth amid challenging market conditions. The digital freight forwarder plans to expand its operations into several new countries in 2026 while facing industry challenges such as decreased demand and fluctuating shipping volumes. Additionally, Flexport is increasing its financial capabilities by partnering with BlackRock to offer better supply chain financing options, aiming for a more competitive stance against larger logistics firms.
Source: YAHOO