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Does freight logistics need a one-stop shop? That’s Flexport’s view, and perhaps one of the reasons Convoy didn’t work; however, it may be too early to adopt this approach in Latin America. On another note, investors still seem willing to back startups that help people drink less alcohol, as long as AI is involved.
By the way, this newsletter will take a break next week, but I will be back on December 2.— Anna
Lessons to learn?
Entrepreneurs often write post-mortem analyzes after closing or selling their business, but it is less common for these lessons to also be learned by their acquirers. Yet this is what happened to Convoy, a bankrupt digital freight unicorn whose technological backbone — including a few team members — is in the process of being acquired by Flexport.
In a note cited by FreightWaves, Flexport CEO Ryan Petersen made it clear that while he was interested in buying Convoy because of the “incredible technology stack” it has built, he was not buying its strategy.