Shared Truckload

Flock reports layoffs, path to profitability

Friday marked a turn of events for Flock Freight, a provider of shared truckload solutions, as the company decided to reduce its workforce by 54 individuals. The company last reported layoffs in April of 2023. 

This strategic move was aimed at recalibrating the company’s trajectory towards profitability. The positions affected were primarily back office roles, focusing on enhancing automation for Flock’s operational efficiencies.

“The people supporting our customers and carriers and those...

https://www.freightwaves.com/news/flock-reports-layoffs-path-to-profitability

The AI advantage: Shaping the future of enterprise efficiency

The past year has been characterized by plentiful capacity and rock-bottom rates. While the current freight recession has continued longer than initially expected, industry experts are anticipating a significant market shift in the new year. 

“Having navigated through a cyclical trough for the ages, both spot and contract truckload linehaul rates are now poised to break materially higher in 2024,” Flock Freight Chief Operating Officer Chris Pickett said. 

It’s a well-known — and often...

https://www.freightwaves.com/news/the-ai-advantage-shaping-the-future-of-enterprise-efficiency

Shared truckload creates pathway to efficiency for enterprise shippers

As the trucking industry continues to slog through its toughest downturn since the 2008 financial crisis, analysts have pointed out a slow shift in market trends. Hard-hit carriers have been buoyed by these glimmers of hope in recent months, but the timing of a true market upswing remains difficult to pin down.

This much-anticipated market shift is likely inevitable, although its timing and shape is still unclear.

Some experts expected to see a significant rate jump by the fourth quarter of 2023,...

https://www.freightwaves.com/news/shared-truckload-creates-pathway-to-efficiency-for-enterprise-shippers

Flock Freight sees growth in pooling rates, potential of future scale

In the volatile landscape of a soft freight market, Flock Freight has weathered the storms. 

While the company has made tough decisions, including reevaluating the structure of its team to align with the dynamic demands of the market, leadership is looking forward to its transition in 2024 while harnessing the technological advancements it has made throughout 2023.

“Flock’s not immune to the market force that everyone is facing. We are selling a differentiated platform and I think part of that...

https://www.freightwaves.com/news/flock-freight-sees-growth-in-pooling-rates-potential-of-future-scale

Flock Freight partners with e2open for shared truckload capabilities

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FreightTech provider Flock Freight announced Thursday a multiyear strategic partnership with...

https://www.freightwaves.com/news/flock-freight-partners-with-e2open-for-shared-truckload-capabilities

Technology is challenging the notion that freight is predestined for one mode over another. Here’s how.

by Lu Saenz, chief technology officer at Flock Freight

For as long as the freight industry has existed, there’s been a notion that any given load of freight is predestined for one mode of transportation and one mode only: large quantities of freight belong to truckload (TL) or intermodal (IMDL), small shipments belong to less-than truckload (LTL), and so on.

In the traditional supply chain, decades-old transportation modes continue to operate much like they did at their start, often limiting...

https://www.freightwaves.com/news/why-considering-a-variety-of-stakeholders-is-critical-to-the-success-of-your-logistics-company-2

Why considering a variety of stakeholders is critical to the success of your logistics company

by Jeff Lerner, vice president of marketing at Flock Freight

Today, the success of a business depends on its ability to generate social and political support. From customers and employees to investors and community members, stakeholder engagement plays a tremendous role in the future of your company. 

Subsequently, considering the needs and wants of all your stakeholders is critical. Each group will have a unique perspective of your business and contribute to its success in a unique way. While...

https://www.freightwaves.com/news/why-considering-a-variety-of-stakeholders-is-critical-to-the-success-of-your-logistics-company

Shared truckload provider Flock Freight reaches unicorn status with Series D

Digital logistics provider Flock Freight announced Wednesday that it has raised $215 million in Series D financing led by SoftBank Vision Fund 2 with participation from new investors Susquehanna Private Equity Investments LLLP and Eden Global Partners and its existing investors, SignalFire, GLP Capital Partners and GV, formerly Google Ventures.

The company’s last raise took place in November for $113.5 million, valuing the company at $463.5 million.

Almost a year later, with 325% year-to-date...

https://www.freightwaves.com/news/shared-truckload-provider-flock-freight-reaches-unicorn-status-with-series-d

Check Call — Shared truckload: The Goldilocks of freight

Group of people huddled around desks
Image: Memegenerator.net

The Goldilocks of freight, shared truck load (STL) — when you have freight that is too big for LTL but too small for a full truckload, that’s where you can find shared truckload. Shared truckload shipments allow shippers to pay less for faster service. 

One component of that faster service is because freight stays on one truck the entire time and doesn’t have to stop at terminals to be offloaded. With STL, shippers don’t have to wait till the truck gets full, they can...

https://www.freightwaves.com/news/check-call-shared-truckload-the-goldilocks-of-freight

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