Supply chain company Flexport has topped the 2022 CNBC Disruptors List, beating nine other logistics companies. Is Flexport publicly traded?
The global supply chain has been broken for the last couple of years, amid clogged ports, container and driver shortages, and lockdowns. Flexport, which was founded by its current CEO, Ryan Peterson, claims to set “new standards for global trade."
What does Flexport do?
Flexport, a freight forwarding company, brings together producers and shippers to efficiently ship products across borders. The company says that its “platform simplifies global trade by connecting everyone in the supply chain.”
Flexport topped the 2022 CNBC Disruptors List
Flexport led the 2022 CNBC Disruptors List. Used by large and small companies, the company moved almost $19 billion in merchandise across 112 countries in 2021. It strives to help customers measure and mitigate their greenhouse emissions.
Flexport isn't publicly traded
Flexport doesn't have publicly traded stock. It completed a Series E funding round in Feb. 2022, raising $935 million and bringing its valuation to $8 billion. The round was led by Michael Dell’s MSD Partners and Andreessen Horowitz, and joined by Shopify.
The company’s valuation has soared over the years. In 2019, it was valued at $3.2 billion after a Series D funding round led by SoftBank raised $1 billion.
When will Flexport IPO?
Flexport hasn’t provided a timeline for listing. However, given the current macroeconomic environment, that may not happen anytime soon. Growth stocks have seen a terrible sell-off, and those that listed in 2020 and 2021 are trading at a fraction of their IPO price. Rivian, which had the biggest IPO of 2021, has plummeted, as have some recently listed companies from SoftBank’s portfolio.