Entrepreneur Ryan Petersen was featured on the Feb. 2022 edition of Forbes. It was a rare occasion—you don’t usually see logistics CEOs being featured on a magazine cover. However, with supply-chain shortages running rampant, Petersen’s Flexport has become heavily relied upon. What's the Flexport CEO’s net worth?
Nearly every industry is affected by supply-chain shortages, and Flexport helps companies adjust by providing logistics software solutions. Some of the world's top companies have shown their support by investing in Flexport.
Net worth: 750,000,000
Ryan Petersen is the founder and CEO of Flexport, one of the world's top supply-chain and logistics companies.
Ryan Petersen founded Flexport in 2013, and by 2020, he had over $2 billion in investments
Petersen, a Maryland native, was raised by an economist father and biochemist mother. He took a similar career path to his father by obtaining his bachelor’s degree in economics from the University of California, Berkeley. The entrepreneur went on to receive his MBA in marketing, general management, and entrepreneurship.
Petersen founded Flexport in 2013 after he successfully pitched the company to investors through a YC (YCombinator) event. YC, one of the biggest tech startup accelerators, has helped major tech companies such as Airbnb, Coinbase, DoorDash, Dropbox, and Twitch. The Flexport founder was fortunate enough to be one of the last entrepreneurs to receive a personal mentorship from YC co-founder Paul Graham.
Petersen and Flexport became favorites among YC and its partners, and the company grew quickly. Throughout the years, he received investments from notable YC partners such as Reddit and SoftBank, and, by 2020, it had over $2 billion in investments, according to Forbes.
From 2019 to 2021, Flexport’s total annual sales doubled. In 2019, its sales were at $670 million, and in 2020, $1.3 billion. In 2021, sales reached $3.3 billion, and now, Petersen’s company is more valuable than ever.
In 2022, Flexport announced it had raised $935 million in Series E funding
The company announced in Feb. 2022 that it raised $935 million in a Series E funding round, giving it a valuation of approximately $8 billion—almost triple its valuation in 2019. Shopify, one of the funding round's leading investors, is partnering with Flexport to help combat logistics issues.
Ryan Petersen's net worth will probably hit $1 billion
Petersen is estimated to have a net worth of around $750 million, according to Forbes. The Flexport CEO has a nine percent stake in the company, which is estimated to be worth $8 billion. He also has investments in other startups, along with other businesses he manages. It will only be a matter of time before Petersen becomes a billionaire.