Didi Global operates in 16 countries, but 90% of its revenues come from China. In 2020, the ride-hailing giant saw its business plummet due to lockdowns related to COVID-19 and lost $1.6 billion on $21.6 billion in revenue, a 10%…
Driver recruitment and retention remains the top priority throughout the trucking industry. Estimates suggest more than 200,000 qualified CDL holders are no longer operating due to headwinds created by the pandemic as well as increased compliance with the Drug &…
Dynamo Ventures, a supply chain-focused seed stage venture capital fund based in Chattanooga, Tennessee, announced Wednesday that it had successfully raised a $43.21 million Fund II. That’s more than double the size of Dynamo’s $18 million Fund I, which it…
“Since the beginning of the pandemic, supply chains have been stretched, frayed and sometimes broken,” said Craig Fuller, founder and CEO of FreightWaves. “In addition, many shippers’ freight spend has increased across shipping modes due to altered market conditions.” Fuller…
Add Canada’s WestJet to the growing list of passenger airlines creating all-cargo fleets to grab a piece of the booming e-commerce market and diversify their business. On Wednesday, Calgary-based WestJet announced it will acquire a small fleet of converted Boeing…
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Truckers will hit more nasty storms and torrential downpours the next few days from the Plains to the Midwest. Some parts of these regions suffered wind and hail damage the past two days, with more waves of storms lasting through…
ShipHero, a New York-based e-commerce software and fulfillment provider, announced Thursday morning that it raised $50 million from Riverwood Capital. The deal values the company at $225 million post-money. The investment represents the first institutional money ShipHero has taken on:…
Less-than-truckload carriers have quietly been using a high-demand, tight capacity environment to cull less profitable freight from their networks for months now. Most of the actions have included rate bumps and stricter enforcement of accessorials and detention fees in efforts…
After 23 years of leading the creation and adoption of Amazon’s (NASDAQ:AMZN) dominant services, Dorothy Li, who announced Thursday she is joining the digital freight network Convoy as chief technology officer, described the transition in terms of its potential real-world…
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