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☆ Flexport CEO says he's rescinding job offer letters for candidates joining as soon as Monday: 'I have no ideas why more than 75 people were signed to join'
▼ + stars: | 2023-09-08 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Flexport CEO Ryan Petersen announced on X that the company was rescinding dozens of job offers. The rescinded job offers come after Petersen reclaimed his role as CEO on Wednesday. On Wednesday, former Flexport CEO Dave Clark announced he was leaving the company less than a year after departing from his role as CEO of Amazon's consumer business to join Flexport. AdvertisementAdvertisement"It's clear that important changes are needed to sustain our growth and return to profitability," Petersen wrote. Petersen, Clark, and a spokesperson for Flexport did not immediately respond to a request for comment.

Persons: Ryan Petersen, Petersen, Steve Jobs, Dave Clark, Clark, FreightWaves, Insider's Eugene Kim, Madeline Stone, he'd, Flexport Organizations: Service, Flexport, Flexport's, Wall Street Locations: Wall, Silicon

☆ Flexport told employees to expect cost-cutting and possibly job cuts, a day after its CEO's sudden departure
▼ + stars: | 2023-09-08 | by ( Eugene Kim | Madeline Stone | ) www.businessinsider.com time to read: +3 min

Flexport told employees Thursday to expect cost-cutting and a possible reduction in workforce. Flexport founder Ryan Petersen said the company needs changes to "return to profitability." Flexport is considering cutting part of its corporate workforce, following Wednesday's sudden departure of CEO Dave Clark. The overarching message was that Flexport was spending too much money, and the company needs to focus more on helping customers, the people said. In it, he emphasized the need to return to profitability and focus on customers' needs.

Persons: Flexport, Dave Clark, Ryan Petersen, Clark, Ryan Petersen's, Petersen, Clark's, Eugene Kim Organizations: Amazon Locations: Amazon

☆ Flexport had an executive exodus days before Dave Clark's surprise departure as three ex-Deliverr leaders left
▼ + stars: | 2023-09-08 | by ( Madeline Stone | ) www.businessinsider.com time to read: +3 min

The exodus came before former CEO Dave Clark announced his departure on Wednesday. Flexport was experiencing an exodus of executives before former CEO Dave Clark announced his sudden resignation on Wednesday. Clark, who was Amazon's worldwide consumer CEO before joining Flexport last September, announced his departure on X, formerly known as Twitter, on Wednesday. In his post, Clark cited the desire of Flexport founder and former CEO Ryan Petersen to return to his role leading the company. During a company town hall on Thursday, Flexport executives told employees that cost-cutting measures were on the way , possibly including job cuts, multiple sources said.

Persons: Flexport, Dave Clark, — Artur Rivilis, Flynn Fishman, Stephanie New —, Rivilis, Fishman, Slack, Shopify, Clark, Ryan Petersen, Freightwaves, Petersen, Tobi Lütke Organizations: Flexport, Shopify Logistics Locations: Deliverr, ,, Flexport, San Francisco , Los Angeles, Dallas, New York, Amazon, mstone@insider.com

☆ Ex-Amazon boss Dave Clark abruptly resigns from Flexport after just one year as co-CEO
▼ + stars: | 2023-09-07 | by ( Rachel Premack | ) www.businessinsider.com time to read: +5 min

Dave Clark left his role as Amazon's worldwide consumer CEO in 2022 to join Flexport, a logistics company. Clarkofficially joined Flexport in September 2022as co-CEO with Flexport founder Ryan Petersen. "Today, Dave Clark resigned as CEO of Flexport," the representative said in an emailed statement to FreightWaves. Just over an hour after Clark's post on X, Petersen — known for his cheeky tone on the social media site — posted "I'm back!!!" On Tuesday, the day before Clark stepped down, Flexport advertised an in-person event to launch a new product hosted by Clark and Petersen.

Persons: Dave Clark, Clark, Flexport's, Flexport, Clarkofficially, Ryan Petersen, Petersen, Ryan, FreightWaves, we've, —, Peter Thiel Organizations: Flexport, Service, Amazon, Clark, Logistics, Street Journal, Founders Fund Locations: Wall, Silicon, Flexport, Texas

REUTERS/Lindsey Wasson/File Acquire Licensing Rights Read moreLOS ANGELES, Sept 6 (Reuters) - Former Amazon executive Dave Clark on Wednesday announced that he will resign as CEO of U.S. logistics startup Flexport about a year after he joined the company. The Wall Street Journal reported that Clark is preparing for a potential run for Texas governor, a topic he did not address in his statement. Clark joined the company as co-CEO in September 2022 after a long career at Amazon.com (AMZN.O). He became sole CEO in March, when founder Ryan Petersen became executive chairman. Clark, best known for building Amazon's sprawling warehouse and delivery network, said he was preparing to launch a Flexport product for small businesses on Thursday.

Persons: Dave Clark, Amazon's, Lindsey Wasson, Clark, Ryan Petersen, Petersen, Flexport, Lisa Baertlein, Bill Berkrot, Cynthia Osterman Organizations: REUTERS, Amazon, Wednesday, Street Journal, Texas, Twitter, Shopify Logistics, Thomson Locations: Seattle , Washington , U.S, ANGELES, Flexport, Los Angeles

Flexport CEO Dave Clark is resigning from the supply chain software startup and handing the reins over to founder and executive chair Ryan Petersen after one year in the role — and after just six months of helming the company solo. As such, I will be resigning from my position at Flexport." Clark and Petersen had been co-CEOs of Flexport beginning last September, and Clark took over as the company's sole CEO in March. Flexport announced last June that Petersen would step down in March 2023 as CEO and turn the position over to Clark, while transitioning into the role of executive chair. In July, Flexport said Petersen would join Founders Fund, the venture capital fund founded by billionaire Peter Thiel.

Persons: Dave Clark, Ryan Petersen, Ryan, Clark, Petersen, Flexport, Peter Thiel ., — CNBC's Riley de León Organizations: CNBC, Wall Street, Amazon, Founders Fund, Peter Thiel . Representatives, Fund Locations: Flexport, Texas, Clark

☆ Californians are fleeing to Texas, where homes and the cost of living are cheaper
▼ + stars: | 2023-08-14 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +4 min

Many Californians have relocated to Texas, as higher housing costs drive them out of the state. In 2021, almost 108,000, people migrated from California to Texas, according to an analysis of the most recent Census data. The saying is that everything is "bigger" in Texas but, for Californians, is it also cheaper? And in June, Redfin found its median home sale price to be $362,000, compared with the US median sale price of $425,177 as of June. In 2022, he and his wife, Erika Dominguez, moved to Dallas, after struggling to afford rent in California, USA Today reported.

Persons: Rogelio Saenz, Saenz, Redfin, Ryan Petersen, Erika Dominguez, Petersen, Peterson, Petterson, Alcynna Lloyd Organizations: Census, Service, Lone Star, University of Texas, USA Today, USA, Instacart, alloyd Locations: Texas, California, Wall, Silicon, San Antonio, Orange County, Dallas, USA

☆ Silicon Valley Founders and VCs Are Making Sobriety Popular
▼ + stars: | 2023-05-04 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +8 min

Sellers is among a growing contingent in the tech community that's going alcohol-free. From founders to investors, members of the startup community are eschewing booze in the name of staying sharp — and healthy. "About six months ago, I stopped drinking alcohol. That's really hard because in this industry, you have to be high energy. That's really hard because in this industry, you have to be high energy.

☆ Some Flexport insiders say layoffs and an influx of former Amazon leaders are wrecking morale. Others say the change is needed.
▼ + stars: | 2023-03-03 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +8 min

And like every other logistics company, it just saw the biggest boom in freight volume in a century, followed by a steep drop. They like to speak louder than the other people in the room," said one laid-off employee who described Flexport feedback pre-Clark as conversational. The company needs to adapt," another laid-off employee said, adding that the introduction of precise metrics for measuring success was needed. I can say generally, the company's shift to profitability came at the cost of employee satisfaction, but I think that's pretty typical," said another laid-off employee. "Now it seems like it's about how much money Flexport can make," said one laid-off employee.

☆ Weeks after mass layoffs, Flexport CEO Dave Clark says most of the company's work can be automated — it's just a 'question of time'
▼ + stars: | 2023-03-02 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +4 min

Dave Clark is now sole CEO at Flexport after previously sharing the job with founder Ryan Petersen. The Amazon veteran said an "overwhelming majority" of work at firms like Flexport can be automated. Striving for automation is common among tech-focused logistics companies, but few have delivered. The goal of automating most of the coordination — like sending emails — in the freight industry is common among venture-backed logistics technology companies. AAutomation-driven logistics technology is still receiving attention from investors despite overall trade volume and venture investment cooling.

☆ Port of New York shatters trade record, but latest shipping data hints at California comeback
▼ + stars: | 2023-01-25 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Containers sit at the GCT New York container terminal on Staten Island on October 20, 2022, in New York City. The Port of Long Beach moved 9.13 million TEUs last year. "These 9.5 million TEUs is more than 27% of 2019 levels," said Bethann Rooney, port director of the Port of New York and New Jersey. "This is not sustainable if we are going to handle 14 million TEUs in the not too distant future," she said. If they have stability on the West Coast, it doesn't really make sense to spend the extra two weeks crossing to go to the East Coast.

☆ Freight Forwarder Flexport Is Laying Off 20% of Its Workforce
▼ + stars: | 2023-01-12 | by ( Liz Young | ) www.wsj.com time to read: +4 min

Freight forwarder Flexport Inc. is cutting about 20% of its global workforce, or more than 600 workers, as the digital-focused business copes with falling shipping demand and repositions its operations to offer more supply-chain services. Mr. Petersen in June had estimated gross revenue of nearly $5 billion in 2022. The layoffs come amid a broader pullback in freight demand since the middle of last year as inflation has taken a toll on consumer demand and retailers have pulled back from earlier inventory restocking efforts. Mr. Clark, who led Amazon.com Inc.’s logistics expansion over his 20-plus years with the company, started as co-CEO at Flexport in September alongside the freight forwarder’s founder, Mr. Petersen. Mr. Clark is scheduled to fully take over the day-to-day leadership role on March 1, the company has said, and Mr. Petersen will then become executive chairman.

☆ Flexport to lay off 20% of its global workforce
▼ + stars: | 2023-01-11 | by ( Riley De León | ) www.cnbc.com time to read: +3 min

Ryan Petersen, chief executive officer of Flexport, participates in a panel discussion during the Milken Institute Global Conference in Beverly Hills, California, U.S., on Wednesday, May 4, 2022. Supply chain software startup Flexport is laying off 20% of its global workforce, or roughly 640 employees, according to a memo from co-CEOs Ryan Petersen and Dave Clark. Flexport joins a long list of tech companies cutting jobs after going on a hiring binge during the Covid pandemic. Coinbase announced a 20% workforce reduction on Tuesday. Elon Musk slashed about half of Twitter's workforce after taking the helm as CEO last year, and Meta cut more than 11,000 jobs, or 13%.

☆ Flexport Names Former Amazon Executive as President
▼ + stars: | 2023-01-05 | by ( Paul Berger | ) www.wsj.com time to read: +2 min

com Inc. executive, is joining Flexport Inc. as the digital-focused freight forwarder boosts its growth ambitions under the leadership of former Amazon consumer chief executive Dave Clark. The San Francisco-based company named Ms. Carlson president and chief commercial officer, overseeing sales, marketing and communications, Flexport said Thursday. Ms. Carlson specializes in cloud computing. Mr. Clark in September took on the role of Flexport co-CEO alongside the company’s founder and CEO Ryan Petersen. Mr. Clark has hired former Amazon employees including public-relations executive Kelly Cheeseman, logistics executive Parisa Sadrzadeh and human-resources executive Darcie Henry.

☆ The supply chain crisis is coming to an end — but 2 looming threats could reignite the chaos
▼ + stars: | 2022-12-20 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +6 min

Holiday shopping went well, so you might assume supply chains are fixed. At a quick glance, supply chains have healed and shopping seems back to normal. Supply chains are running much more smoothly than they have in more than two years right now. A major indicator that supply chains have been off balance is the inventory-to-sales ratio, which is tracked by the US Census Bureau. A return to seasonal rushes and lulls, without massive, global disruptions, will be the sign that supply chains are "back to normal."

☆ Watch Jim Cramer's full interview with Flexport founder Ryan Petersen
▼ + stars: | 2022-12-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Jim Cramer's full interview with Flexport founder Ryan PetersenCNBC's Jim Cramer interviewed the founder of logistics firm Flexport, Ryan Petersen, on Friday's episode of "Mad Money."

☆ Flexport founder on declining shipping rates and supply chains relocating out of China
▼ + stars: | 2022-12-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFlexport founder on declining shipping rates and supply chains relocating out of ChinaRyan Petersen, founder of the logistics firm Flexport, appeared on Friday's episode of "Mad Money" with Jim Cramer.

☆ Shopify's startup investments this year include millions into companies that focus on NFTs, Web3 apps, customer-engagement, and financial services
▼ + stars: | 2022-11-03 | by ( Madeline Stone | ) www.businessinsider.com time to read: +12 min

In its press release announcing the new funding, Wati said the investment was Shopify's first in a startup operating in Southeast Asia. The goal is to make Thirdweb's tools available to Shopify merchants who want to bring Web3 products and experiences to their online stores. Shopify recently participated in Gorgias' $30 million Series C round, which valued the startup at $710 million. According to the company, merchants using its technology report a 96% increase in sales on average. Flexport announced it had received a strategic investment from Shopify as part of its $935 million Series E on February 7.

☆ Logistics startup Flexport plans hiring spree, to double engineers in 2023
▼ + stars: | 2022-11-02 | by ( Krystal Hu | ) www.reuters.com time to read: +2 min

Nov 2 (Reuters) - Flexport, one of the most valuable logistics startups, is looking to add about 400 engineers to double its technical team by next year, a top company executive told Reuters. Flexport raised $935 million led by venture capital firms Andreessen Horowitz and MSD Partners earlier this year at a valuation of $8 billion. Founded in 2013 by Ryan Petersen, Flexport enables buyers, sellers and their logistics partners to ship, store and trade goods on its digital platform. The expanded team will work on building the core product, and improve the tracking system and add more automation to the platform. Flexport currently has over 3,200 employees across the world, and now has a hybrid work policy, requiring employees to work for two to three days in the office.

☆ As California's port congestion improves, overseas shipping prices are dropping
▼ + stars: | 2022-10-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAs California's port congestion improves, overseas shipping prices are droppingRyan Petersen, Flexport co-CEO, joins 'TechCheck' to discuss the huge improvement FlexPort is seeing in the cost to ship internationally, the easing of shipping backlogs and the company's plans to go public.

☆ Global supply chain woes have seen 'huge improvement,' Flexport founder says
▼ + stars: | 2022-10-20 | by ( Ashley Capoot | ) www.cnbc.com time to read: +3 min

Global supply chain woes have eased ahead of the holiday season, according to Flexport founder and co-CEO Ryan Petersen. Ports are less congested, and the cost of shipping goods has fallen significantly this year, Petersen said. The global supply chain was pummeled with high costs, lengthy delays, crowded ports and shipping container shortages during the coronavirus pandemic. Flexport helps its customers navigate supply chain challenges by providing them with more visibility and data-driven control over their inventories while they are in transit. But despite the improvements to the supply chain, Petersen is not convinced the industry has learned much from the challenges of the pandemic.

☆ New Flexport CEO Dave Clark is shaking up the top of Ryan Petersen's $8 billion supply-chain startup
▼ + stars: | 2022-09-21 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +4 min

Former Amazon boss Dave Clark took his seat as the co-CEO of Flexport on September 1. Petersen told The Verge that Clark will have more direct reports than he did when he was sole CEO. On September 1, former Amazon Global Consumer CEO Dave Clark officially took his spot as co-CEO of the supply chain unicorn. He took the role of senior vice president of operations at Flexport on September 12, and reports directly to Clark. On the podcast, Petersen touted Clark's decisiveness as a key asset.

☆ Flexport is buying Deliverr from Shopify. Here's the pitch deck the startup used to raise its $40 million Series C and become an acquisition target for some of the biggest names in e-commerce.
▼ + stars: | 2020-02-05 | by ( Benjamin Pimentel | Emma Cosgrove | ) www.businessinsider.com time to read: +2 min

Flexport is acquiring fulfillment firm Deliverr from Shopify, the players announced last week. Deliverr, which was founded in 2017, aimed to give small sellers a leg up on Amazon. Here's the pitch deck Deliverr used to fundraise from backers including Flexport's Ryan Petersen. Karkaris's cofounder Harish Abbott will transfer to Flexport to oversee the transition reporting directly to Clark, when the deal closes. Here's the pitch deck Deliverr used to raise a $40 million Series C round from investors, including Activant Capital, 8VC, GLP, and Flexport founder Ryan Petersen.

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