Sources: in H1 2023, Flexport burned ~$300M and its revenue fell nearly 70% to $700M; founder Ryan Petersen, back as the CEO, says Flexport has $1B+ in net cash (Maria Heeter/The Information) 14-09-2023

Maria Heeter / The Information:
Sources: in H1 2023, Flexport burned ~$300M and its revenue fell nearly 70% to $700M; founder Ryan Petersen, back as the CEO, says Flexport has $1B+ in net cash — Flexport’s revenue fell nearly 70% in the first half of the year to $700 million and the company burned through cash, people familiar with the company’s financials said.