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.

Next Trucking Seeks Sale After Raising Over $124 Million
Next Trucking, Based in El Segundo, California

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.

Source: The Information

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