Convoy was a digital freight brokerage founded by former Amazon executives to digitally revolutionize a high-transaction, low-profit space. Investors included Bill Gates, former Vice President Al Gore, Bono and The Edge from U2, the investment arm of Google parent Alphabet, and Jeff Bezos.
Convoy was launched in 2015, reached a $3.8 Billion valuation in early 2022, and was gone less than 18 months later. What was Convoy’s cause of death? As you might have guessed, there was more than one.
In this episode of Dial P for Procurement, Kelly Barner performs a supply chain post-mortem, led by a brief retelling of Convoy’s rise and fall:
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