This firm backed by Jeff Bezos shuts down, what CEO told workers
Seattle-based trucking startup Convoy is shutting down its operations due to the "unprecedented freight market collapse" and "dramatic monetary tightening." Despite securing $260 million in funding in 2022, Convoy was unable to withstand the pressures of the industry. The company's co-founder and CEO, Dan Lewis, expressed gratitude to employees and acknowledged their excellent work but ultimately concluded that market forces were too strong. Convoy will be exploring strategic options for the future, as it believes in the need for modernization in the freight industry.
DNA News Desk
0
12
Seattle-based trucking startup Convoy is shutting down its operations due to the "unprecedented freight market collapse" and "dramatic monetary tightening." Despite securing $260 million in funding in 2022, Convoy was unable to withstand the pressures of the industry. The company's co-founder and CEO, Dan Lewis, expressed gratitude to employees and acknowledged their excellent work but ultimately concluded that market forces were too strong. Convoy will be exploring strategic options for the future, as it believes in the need for modernization in the freight industry.
