Convoy, which was valued at $3.8 billion following an April 2022 funding round, has been weighed down by heavy debt and declining freight demand.
Photo: CONVOYFlexport is in talks to buy the technology of collapsed digital freight startup Convoy, a move that would expand the freight forwarder’s push into the domestic U.S. trucking market as the company seeks to climb back into profitability, according to a person familiar with the talks.
The conversations are continuing, the person said, but didn’t provide additional financial details.
Organizations:
Convoy