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Digital freight company Transfix is selling its road freight brokerage business, as part of a pivot to focus primarily on transportation software.
Transfix will be selling to third-party logistics provider NFI Industries, according to The Wall Street Journal. The sale will include the addition of 15,000 carriers for NFI, while Transfix says it will keep just over 100 of its roughly 350 employees on board for its existing operations.
This marks the latest domino to fall for the previously ascendant digital freight startup industry. In January of 2023, Uber Freight laid off 150 employees. Then in October of that same year, supply chain software startup Flexport laid off 20% of its own workforce. A week later, Jeff Bezos-backed digital freight broker Convoy announced that it would be shutting down over what the company called a "massive freight recession," CNBC reported at the time.
Transfix had considered a public listing in 2022, before canceling those plans and opting to remain private.
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