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We took the opportunity to ask our Instagram followers about their best days as freight brokers. Here are some of their responses...
Heartland Express, Covenant Logistics, and Knight-Swift Q2 earnings show mixed results, debt reduction, and market stabilization signs.
Transfix struggles to raise $50M Series F at 60% reduced valuation, amid weak freight market conditions.
Transfix, a digital freight marketplace, is seeking to raise a $50 million Series F at a $376 million valuation, a stark 60% decrease from its $940 million valuation from its previous funding round in March 2020. The drop is said to be a result of market forces, with the company reportedly securing $30 million of the target sum from New Enterprise Associates (NEA) and G-Squared, while still seeking the remaining $20 million from additional investors.
Attempted Recovery
Transfix's push for private financing comes after the company decided not to go public in a special purpose acquisition company (SPAC) combination with G-Squared. The hope was to achieve a $1.1 billion valuation through the public offering. However, despite the downturn, Transfix remains hopeful of closing the funding round in September. The company's leadership also saw a change in March, with CEO Lily Shen stepping down and co-founder and CTO Jonathan Salama taking over.
Source: FreightWaves
We took the opportunity to ask our Instagram followers about their best days as freight brokers. Here are some of their responses...
Q2 sees slower rate of trucking business exits, but market remains challenging. Here are the latest industry data and expert insights.
Driver wages remain the largest expense. Safety bonuses ($1,831 average) surpassed starting bonuses for the first time.
Kahana had been working at home during Hurricane Beryl when his power went out. For most people, that would be the end of the work day. Kahana is not like most people.
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