In the latest episode of "The Freight Caviar Podcast", we sit down with Cameron Ramsdell, the CEO of Armstrong Transport Group. He discusses strategies for protecting your business against fraud and how he grew Armstrong by 60% in one year.
Next Trucking Seeks Sale After Raising Over $124 Million
Sequoia-backed Next Trucking is up for sale amidst a trucking slowdown. With revenues and EBITDA below expectations, it may face a steep discount from its last $500M valuation.
Sequoia Capitalābacked logistics startup Next Trucking, is looking to sell itself amid a slowing trucking sector. The company's projected revenue for the current year is $176 million, significantly down from its previous forecast, and it expects an EBITDA loss of $12 million. Industry insiders suggest that due to the negative EBITDA and lower net revenues, the company may sell at a considerable discount from its last valuation of $500 million.
Next Trucking is for sale.
Gross revenues are $176 million - no mention of net revenues.
Gross revenues are a meaningless number at freight brokerages - versus net revenues (gross minus purchased transportation), which have real meaning.
Thilo Huellmann and his team traveled 2,500+ miles, visiting key freight markets like Grand Rapids, Cincinnati, and Houston to discuss AI and automation with freight brokers. Hereās what they learned.
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