Bowing to pressure from investors, Pitney Bowes has replaced longtime CEO Marc Lautenbach, who is also leaving the board of directors, while a company statement on the news points to the likelihood of a pending sale of the money-losing global ecommerce unit, which investors have also called for. The board named EVP and Group President Jason Dies as interim CEO.
Zerobroker, a logistics technology firm that lets shippers eliminate fees by connecting directly with carriers without using a freight broker, has raised $6.5 million in a seed round that includes participation from Flexport, Funders Club and Streamlined Ventures, among others. It was part of the 2021 cohort of startup incubator Y Combinator.
Less-than-truckload platform provide Warp is looking to “gigify” LTL, much as the last mile space has been for the past several years, by letting shippers choose among various types of delivery providers, enabling faster service than waiting for a combined load with traditional carriers. The service, called gLTL, leverages Warp’s load-matching technology.
GXO Logistics, which calls itself the world’s largest pure-play contract logistics provider, is acquiring Irving, TX-based 3PL PFSweb for $181 million in an all-stock deal, the companies said, increasing GXO’s presence in apparel, footwear and health and beauty categories. The transaction is expected to be completed in the fourth quarter, and GXI paid a 50% premium to the Sept. 13 close.
At its Accelerate seller conference in Seattle, Amazon announced a raft of interconnected services Tuesday, branded as Supply Chain by Amazon. It handles everything from logistics and forwarding from point of origin all the way to the customer’s door. For the first time, Amazon offers bulk storage, distribution and replenishment across channels from the same inventory pool, including retail stores.
FedEx Express package and freight standard list rates for U.S., U.S. export and U.S. import services, and FedEx Ground standard list rates will increase an average of 5.9% as of Jan. 1. The Sept. 7 release of the General Rate Increase marks the earliest announcement in company history. While it’s impossible to analyze every 2024 change, here are some important takeaways for shippers to note and assess.
Some major Pitney Bowes investors unhappy with its financial results are renewing calls for the company to sell off its money-losing global ecommerce business and get rid of CEO Marc Lautenbach, with one estimating a $1 billion valuation for the unit and possible interest from heavyweights like Amazon and Walmart. Short of that, another bruising proxy fight could be in the cards for next year.
Flexport is undergoing another reshuffle at the top, with former Amazon logistics executive Dave Clark departing, replaced at least for now by once-again CEO and founder Ryan Peterson in a shakeup pointing to a reset to the company’s core freight focus and a pullback from its aggressive growth plans. But experts wonder how Flexport will fare as freight volumes and rates fall in tandem globally.
Better Trucks, a Chicago-based parcel delivery firm, has enlarged its footprint through opening new locations in Texas and partnering with West Coast-based GLS U.S., giving the two firms same-day to two-day coverage of 32 markets in 20 states, representing 40% of the U.S. population. The deal is similar to the joining of regional carriers OnTrac and Lasership in 2021, though on a smaller scale.
Third-party logistics (3PL) providers play a pivotal role in guiding brands through the continuing evolution of retail and ecommerce. Brands aiming to adapt and excel need 3PL partners that leverage industry expertise, data and technology. This helps them enhance efficiency, promote collaboration and drive fulfillment innovation. Here’s how innovative 3PLs are spearheading this change.