The COLLAPSE of Convoy | What Went Wrong?
The COLLAPSE of Convoy | What Went Wrong?
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This week news broke on the collapse of trucking startup & digital brokerage, Convoy. In this video, Liam breaks down the latest news surrounding this closure and highlights important messaging from industry VPs and CEOs who weigh in on the seemingly sudden fallout.
What do you think of this video? How do you feel about the future of digital brokerages? Leave a comment below!
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📚 Chapters
00:00 Introduction- Convoy, Seattle based trucking startup
00:49 How Convoy was created
01:10 Convoy introduced a digital broker service
01:31 Convoy raised $260 Million 18 months before closing
02:10 Challenging year for trucking industry and Convoy
02:32 JP Morgan extended a credit line of $150 million to Convoy
02:57 What caused Convoy collapse?
04:10 Freightwaves CEO comment on Convoy
04:51 Convoy announced $1 Billion annual revenue
05:45 Convoy CEO Dan Lewis statements
07:13 Freight demand dipped and revenue decreased
07:24 Industry analyst statements
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