Today we announced the sale of the Convoy Platform to DAT Freight & Analytics, delivering a massive return on investment for Flexport. This marks a major milestone for Flexport and for the freight industry as a whole.

When we acquired the Convoy Platform in November 2023, our goal was to preserve an important piece of logistics technology that was on the verge of disappearing. Over the past 18 months, we rebuilt and relaunched the platform as a neutral digital freight execution layer that serves brokers, carriers, and shippers across the market. We brought tens of thousands of high-quality carriers back onto the platform, reignited broker adoption, and proved that this technology has tremendous value and potential.

That investment paid off. The platform is now stronger, more widely used, and far more valuable than when we acquired it. As the Convoy Platform matured, it was clear that to achieve its full potential, it needed to be a neutral infrastructure layer.

For Flexport, this sale allows us to focus our capital and energy on our core business: helping the world’s most beloved brands move goods through global logistics, customs, and technology. It sets the Convoy Platform up for long-term success as a neutral infrastructure layer that integrates across shippers, brokers, and carriers. For DAT, it provides a proven, high-performing platform that will accelerate their innovation. And for the industry, it offers a powerful technology platform that reduces cost, improves speed, and helps eliminate fraud at scale.

I’m incredibly proud of our team and what we’ve accomplished in such a short time. We didn’t just save a product, we made it stronger. And now, by transitioning the Convoy Platform to DAT, we’re ensuring that strength becomes a force multiplier for the entire industry.

This is a win-win-win. And it’s exactly the kind of smart, strategic move we aim to make every time. One that creates value for our customers, our partners, and the industry we serve.