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Convoy raises $62M from Bill Gates and other luminaries to transform trucking

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41–50 of 111 posts

Re: Convoy raises $62M from Bill Gates and other luminaries to transform trucking

#41
post #29

Yes, similar systems do exist. My team made one of them: https://cargofone.com/en/ In some ways, it's more challenging than building "an Uber", once you get into different cargo and body types, document management, insurance, etc. We launched in Russia first, and not being able to do electronic signatures added a set of challenges. In any event, glad these investments are happening. Trucking is badly broken, especial…

> Trucking is badly broken, especially in the US.

why do you say that?

Re: Convoy raises $62M from Bill Gates and other luminaries to transform trucking

#42
A bit of tangent, But i am in the market for the Software that Convoy and CargoFone are building. We have our own FT, LTL and Final Mile Carrier network. We have negotiated custom rates with them.

What i am looking for the Software service through which i send Orders and get updates from these Carriers.

Is there a solution like that out there?

Re: Convoy raises $62M from Bill Gates and other luminaries to transform trucking

#43
post #35

"We don’t think there are any other companies that have taken the same approach" I distinctly remember a service/app with the same purpose in Europe in 2013. There's Cargomatic and mentioned by mkoryak, OpenMile. And probably others. Money will definitely help here, though.

Yep, we launched one: https://cargofone.com/en/ Money helps, but it isn't the only thing.

Well, add Cargofone to the list.

The one I remember, though I can't for the life of me remember it's name, was operating around Benelux, mostly Belgium, France and Netherlands.

The truckers I knew mostly used it to find nearby matches for return trips (so they don't make a return trip empty). I don't know what happened to them.

Re: Convoy raises $62M from Bill Gates and other luminaries to transform trucking

#44

"Uber for trucking"... Uber already has an Uber for trucking [0][1]. And it's doing very, very well. [0] https://www.wired.com/2017/05/uber-freight/ [1] https://medium.com/official-uber-freight-blog/uber-freight-l...

It looks like Convoy started far before Uber [0] and Uber has been trying to catch-up to Convoy. I wouldn't believe what Uber says.

[0] https://www.geekwire.com/2016/greylock-leads-16m-round-deman...

Re: Convoy raises $62M from Bill Gates and other luminaries to transform trucking

#45
post #41
post #29

Yes, similar systems do exist. My team made one of them: https://cargofone.com/en/ In some ways, it's more challenging than building "an Uber", once you get into different cargo and body types, document management, insurance, etc. We launched in Russia first, and not being able to do electronic signatures added a set of challenges. In any event, glad these investments are happening. Trucking is badly broken, especial…

> Trucking is badly broken, especially in the US. why do you say that?

According to friends in the business:

- hard to make money - people work too much and sleep too little - various abuse by trucking companies

For a more methodical analysis - USA Today did a piece a month ago:

https://www.usatoday.com/pages/interactives/news/rigged-forc...

Re: Convoy raises $62M from Bill Gates and other luminaries to transform trucking

#46
I would assume YC, Greylock and others have wide access to deals and have many opportunities to invest. Knowing how VCs operate I am assuming that they looked at the top companies in the sector before deciding on this company and teams.

It seems like several companies have tried to go after this market with technology, but Convoy has the best backers and most momentum. I wish them the best of luck!

Re: Convoy raises $62M from Bill Gates and other luminaries to transform trucking

#47

"Uber for trucking"... Uber already has an Uber for trucking [0][1]. And it's doing very, very well. [0] https://www.wired.com/2017/05/uber-freight/ [1] https://medium.com/official-uber-freight-blog/uber-freight-l...

Uber for Freight only officially launched last month. Check their app reviews (both iPhone and Android), more than 1/3rd are one star, citing various issues.

What makes you think they are doing very well?

Re: Convoy raises $62M from Bill Gates and other luminaries to transform trucking

#49
post #35

Earlier quoted context omitted.

Yep, we launched one: https://cargofone.com/en/ Money helps, but it isn't the only thing.

Well, add Cargofone to the list. The one I remember, though I can't for the life of me remember it's name, was operating around Benelux, mostly Belgium, France and Netherlands. The truckers I knew mostly used it to find nearby matches for return trips (so they don't make a return trip empty). I don't know what happened to them.

I've seen a few names, but the ones I saw were essentially message boards - proceed at your own risk.

With Cargofone, every driver/company passes background checks, we insure everything automatically (via partnership with a large insurer), and we guarantee immediate payment. The aren't many that do all this.

Re: Convoy raises $62M from Bill Gates and other luminaries to transform trucking

#50
post #36
post #31

Speaking as the son of a trucker who spent a summer helping my dad negotiate and optimize his freight rates and schedules, the freight brokerage business is not one I would consider getting into. There is also a ton of competition in the freight brokerage space and the problems associated with shipping are due to poor warehouse management and unreliable truck drivers. Unlike hailing rides in a taxi, manufacturing and…

I was left asking, what is the real difference between Convoy and any other freight broker? The collect more data? I thought IBM was already in that business.

How's IBM in that business?

IBM has a few initiatives in transportation + blockchain (Maersk, also trucking in Brazil).

Anything else?

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