Freightquote.com

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Freightquote
Type Private
Industry Logistic Services
Founded 1998
Headquarters Kansas City, Missouri, United States
Key people Tim Barton (Founder,Chairman,CEO), Byron Clymer (CIO), Matt Druten (CFO)
Products Freight Forwarding Services
Revenue Increase$520 million USD (as of 2011 est)[citation needed]
Employees 1,200 (2011)
Subsidiaries Freightview and Rockwell Transportation
Website www.freightquote.com

Freightquote is a privately owned online transportation broker of freight services throughout North America. Their business provides comparisons of shipping rates for hundreds of national and regional freight carriers. The company combines services and carriers coordinates logistics for small and large loads, such as single pallets to full shipping containers moved by combinations of truck and rail. Based in Kansas City, MO, the company employs approximately 1,200 people nationwide.[citation needed] Freightquote is the largest online freight broker.

Services[edit]

Freightquote developed a patented-technology platform to enable shippers to find competitive rates that can be compared[1] for their freight shipments, similar to that which travel websites provide. Performed online, customers input freight shipment information online, review carrier options, choose a carrier, book shipments and pay for services. The company extends this platform through API connections. E-commerce websites integrate the company's technology to provide their customers with freight cost estimating and booking capabilities. Partners include Magento, zen cart and OS Commerce.

History[edit]

Tim Barton founded Freightquote in August 1998.[2][3] The first nine months were spent developing the company's technology and carrier partnerships. The website launched in May 1999. Freightquote has grown steadily since its inception.

Freightquote made its first significant acquisition in December 2005 with the purchase of Twin Modal, a truckload and intermodal transportation intermediary based in Minneapolis, MN. In December 2006, Great Hill Partners signed a deal to acquire a minority interest in the company.[4] In January 2007, the company made its second major acquisition with the purchase of Rockwell Transportation. Based in the Perkasie, PA, Rockwell provided traditional personalized freight transportation management services, similar to those of Twin Modal. Just in time for the 2012 holidays, on November 16, 2012 Freightquote announced the closure of the Rockwell division and moved all East Coast operations to Lenexa, KS.

The company currently employs over 1,200 employees and has annualized revenues exceeding $500 million. It helps to move over 1 million shipments annually.

References[edit]

  1. ^ Ebay Business at Your Fingertips - Kevin Boyd. p. 113.
  2. ^ "About Freightquote: U.S. Freight Shipping Company". Freightquote. Retrieved 2014-08-16. 
  3. ^ "Freightquote.com Inc. - 2014/01/14 - Gale Company Profiles". Alacrastore.com. 2014-01-14. Retrieved 2014-08-16. 
  4. ^ "Great Hill Takes Stake in FreightQuote". The New York Times. December 14, 2006. Retrieved 17 March 2014. 
Sources

External links[edit]