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Seattle Trucking Marketplace Convoy Pauses Shipments and Considers Sale Amid Market Recession
Seattle-based trucking startup Convoy has paused shipments and is reportedly winding down operations amid a freight market recession and financial struggles, with layoffs and potential sale talks ongoing. The company, valued at $3.8 billion last year, faces stiff competition and market headwinds, and plans to share more details on its transition later this week.
Amazon Veteran Dorothy Li Named CTO of Convoy; Will Lead Engineering for Digital Freight Network
Dorothy Li, a 23-year Amazon veteran who helped launch products from Prime to Kindle, has been named CTO of Seattle-based trucking startup Convoy and will lead engineering for its digital freight network. Convoy, valued at $2.7 billion after a $400 million raise in November 2019, reports triple-digit year-over-year revenue growth and a network of over 67,000 carriers and 300,000 trucks.
