2015
Convoy's first product was an Android app plus a web experience, a pricing model and a matching model, launched at the end of August.
“We built the app just for Android initially, a web experience and a pricing model and matching model.”
Topic
Convoy
20 facts from 1 episode, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
2015
Dan Lewis says Convoy's broker registration number was a day old at launch, which made truckers distrust it.
“Our MC number, our official like motor carrier numbers of brokers a day old.”
2015
Convoy was incorporated on April 1 in its first year.
“incorporated the company April 1st, not on purpose, but like it's, it's been fun.”
2015
Convoy raised its Series A in November and closed it in December of its first year, after a private beta in August and a public announcement in October.
“And then raised our, our series a in November. And close it in December.”
2015
Convoy's Series A was a $16 million round from Greylock.
“And that's what you say was a $16 million round from Greylock. That's correct.”
Undated
Convoy had raised $668 million in total capital and was described as the highest-valued startup in the Pacific Northwest.
“having raised a whopping $668 million in total capital.”
Undated
Convoy co-founder Grant Goodale had been on Dan Lewis's team at Amazon.
“Grant was on my team at Amazon.”
Undated
Convoy's early team worked at a table in the Techstars office, in the old law school library at the University of Washington.
“So Techstars has their office here at UW in the old law school library. And or, you know, that's where it was.”
Undated
Dan Lewis says offering truckers a specific real shipment raised their conversion to downloading the app from about 0% to about 95%.
“So then you go from a 0% conversion to like 95% conversion where if the truck driver wants that job, they're going to download the app to get it.”
Undated
Dan Lewis says Convoy pays carriers about 30 days earlier than usual, and that the financing cost is less than the benefit of carriers using its app.
“So effectively, if I could pay the carrier 30 days before they're used to getting paid, the cost for me to finance that is a lot less than the benefit”
Undated
Convoy built a free transportation management system for medium and small shippers, letting them book loads with Convoy or other trucking companies.
“We've already built a transportation management system, a TMS software solution for medium shippers to use that they can run all of their freight on.”
Undated
Unilever invited Convoy to join a pilot with new freight companies, and Convoy ended up starting with Unilever in Texas.
“Unilever reached out and said, hey, we're doing this pilot with some of the new companies.”
Undated
Dan Lewis says Convoy ranked roughly in the top 15 to 20 freight brokerages in the US.
“We would probably be in about the top 20, you know, top, top, maybe 15.”
Undated
Dan Lewis says Convoy roughly doubled its shipment volume every quarter for about its first eight quarters.
“For the first, like I think eight quarters or so, we were doubling volume every, or every quarter approximately.”
Undated
Dan Lewis says Convoy is the largest trucking provider for several Fortune 100 customers.
“We're the biggest trucking company for several name brand, you know, fortune 100 companies now in the country.”
Undated
Convoy engineers marked quick, unsustainable code shortcuts with the comment CTFU, short for 'catch the F up', to reflect the company's urgency.
“they would comment it out with CTFU, which was catch the F up”
Undated
Convoy launched a feature called batching that stitches multiple jobs into combined routes such as round trips.
“We just took, we launched something this year called batching.”
Undated
Dan Lewis says carriers using Convoy's batching ran empty about 19% of the time, compared with 35-36% for those that did not.
“the ones that don't run empty about 35, 36% of the time.”
Undated
Dan Lewis says batching cuts empty-mile emissions by roughly 40 to 45%.
“you're reducing emissions from using batches by about 45%.”
Undated
The hosts recommended Mystery, a Seattle app made by former Convoy employees that plans surprise outings.
“So Vince and Shane from Mystery have created something incredibly cool.”
Episodes