Plus: CargoNet's Thanksgiving theft trends, a robotic system for unloading non-palletized goods lands a $50M investment, trucks stolen in Chicago, and more.
In the latest episode of "The Freight Caviar Podcast", we sit down with Charley Dehoney, CEO & Co-Founder of Upwell. He discusses his early experiences at Worldwide Express and GlobalTranz, and why he believes industry consolidation is on the horizon.
FMCSA releases video for drivers to get back CDLs, Trump names commerce secretary, and more.
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 Capital–backed 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.
— Craig Fuller 🛩🚛🚂⚓️ (@FreightAlley) June 5, 2023
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.
Freight brokerages’ values are… pic.twitter.com/Zjb3AuRpU6
Source: The Information
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. Here’s what they learned.
Special damages, also known as consequential damages, are extra costs not automatically covered by the carrier. They arise from the consequences of damaged or delayed freight. Here's what brokers and shippers need to know.
The myths, the reality, and practical tips for how you can begin using AI in your freight business.
A robust, proactive, and responsive security system is essential to reduce cargo theft risks effectively. Leading the charge in these solutions is remote live video monitoring. Learn more here.
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