Flexport

“The gross margin should be about 75%.”

“Every time you import a product into the U.S., it's public record, that product, and my last company actually sells that data. We aggregate every time you import something. We've collected three hundred million of those shipping manifests and sell subscription…”

“Yeah, we're trying, we actually have a waiting list of like, 300.”

“It took us years to get the license.”

“We're not removing the human elements, so we're pairing you with a licensed customs worker. We have customs workers on staff, and it's more of a communications tool to, like, enable it.”

“The brokerage is just the way that we enter the much larger logistics space, because once I'm your customs broker, I know everything about your supply chain.”

“Usually it's not dependent on the value of the goods, but it's like between a 103 hundred dollars per shipment, and there's thirty million shipments that enter the U.S. Every year and are filed with a customs customs entry.”

“Based on what the product is, there could be, like, a 120 different forms you have to file, so we have to take the, what the product is, determine which forms are needed, fill those out for the, ah, customer, file them electronically with the government.”

“The biggest oil company in the world signed up.”

“We're the first licensed U.S. Customs brokerage built around a modern web application.”

“Yeah, we have three customers right now .”

“Now it took five years from the first time I had the idea to the first dollar of revenue was five years, four years of which it was just me and no other employees.”

“It was only about two percent of our shipments were affected by the first round of tariffs.”

“Our goal is to get to 20 or 40% market share. If you do that, you're the biggest company on planet earth. Like full stop, like bigger than Saudi Aramco.”

“Yeah, so probably about 10% of Flexport shipments get delivered to an Amazon warehouse.”

“And we got Foxconn signed up, makes, makes the iPhone, Cargill signed up like one of the biggest ad companies in the world. And then one day Saudi Aramco signed up the, National oil company of Saudi Arabia signed up for my fake website.”

“In the freight world, because of the size, there's no company big enough to keep it in their own network from door to door. You would actually have to be the biggest company in the world by far.”

“We have like about 3000 paying customers now.”

“The earliest customers for Flexport we got via Google AdWords and SEO and just signups and people just finding us on the internet, signing up for the service.”

“If the product is this bad, and people are still using it, this is a good thing.”

“What entrepreneurial sales is very different than regular sales. You want to get to know as fast as you can. So you stop wasting your time and get to the next Yes. You want to get to know within five minutes ideally. Yeah. That's great if someone hangs up on y…”

“So we have about 2000 merchants that sell on Amazon that use us.”

“We now have a business that makes loans to our customers trade finance Loans for any, anything? To buy inventory. Which we secure with the inventory.”

“We have a seven 47. We have our own plane.”

“Flexport is a 98% outbound sales. Maybe it's 95% outbound sales model.”

“What we look for, we like Flexport has my COO, my business partner calls it insecure overachievers is our profile. We want people who are like really hungry, but humble and they want to prove something to the world and they're super smart, but they don't neces…”

“March 31st of twenty-thirteen is when we were granted the license by U.S. Department of Homeland Security Customs and Border Protection, and so I started working on the idea in like twenty-ten. Flexport for the, there was three years there waiting for the gove…”

“Flexport got to two hundred million dollars in revenue without having a marketing team.”

“I think we, Flexport could only be founded in Silicon Valley. We'll see if that's true in 10 years from now, but I think that's still true today.”

“About 20%. We try to hire one out of every five or six people From the industry. We think we need that expertise. My principle is five or six people. Cause like most teams should have five or six people on it. And I want one person in the room has done it befo…”

“We are now, we last month we passed FedEx and panel Pina, which are, we're now number 17. Oh, out of about 20,000 freight forwarders in the world in four years.”

“Your six stakeholders as a business or your customers who you pay you money, your vendors, your employees, your investors, Regulators and then the communities where you operate and you have, so you have six stakeholders and if you can keep all six of those, yo…”