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)

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.

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