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The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch cover image

20VC: Flexport's Ryan Petersen on Why Investor Relations Are Overrated, Why Boards Have To Be Rethought & Why MBAs Do Not Make Bad Entrepreneurs

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

NOTE

Founding story

The founding story of Flexport is deeply intertwined with the founder's personal experience in running an e-commerce business sourcing products from Chinese factories. Facing the complexities of managing international logistics, the idea for Flexport was born - to create software simplifying the process, akin to a 'TurboTax for importers'. The founder initially tested the concept by building a website in a weekend, which garnered sign-ups from major companies like Foxconn, Cargill, and Saudi Aramco. Despite the early success, challenges arose in licensing and knowledge gaps, requiring learning, recruitment, and obtaining necessary licenses over a three-year period.

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