Convoy

Flexport sells former freight unicorn Convoy’s tech two years after buying it

Transportation /

Two years ago, logistics company Flexport bought the assets of Convoy, a former freight tech unicorn that had closed up shop. Now it’s sold that platform and delivered a “massive return on investment for Flexport.” Flexport announced the sale on Monday to DAT Freight & Analytics, but declined to disclose terms. “Over the past 18 […]

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Venture debt lenders will play a big role in fire sales and startup shutdown this year, experts say

Startups /

When accounting startup Bench abruptly failed last month, the shutdown was forced when the company’s lenders called in the startup’s loan. In late 2023, the digital freight company Convoy faced financial challenges, leading venture lending firm Hercules Capital to assume control of the company to recover its investments. Divvy Homes, which sold for about $1

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