Flexport CEO Dave Clark resigns
Flexport CEO Dave Clark is resigning from the supply chain software startup and handing the reins to founder and executive chair Ryan Petersen.
After one year in the role—and after just six months of helming the company alone—we learned that: “Today, Ryan and I discussed his desire to return to focusing on growth in the core freight business. In light of that, he is best suited to lead the company in that direction. As such, I will be resigning from my position at Flexport.”
What does that mean for pre-IPO investors in Flexport?
Flexport shares have been trading on the weak side for a number of months already, and we thought that was all due to the “fears of recession.” However, with the recent announcement, we wonder if any insider was perhaps offloading. At any rate, the need for liquidity for Flexport shares is significant, considering the monster $935 million Series E round from February 2022, led by A16Z, but that alone does not explain the softness in the price of the Flexport stock.
This should continue for a while; sellers should outweigh buyers sometimes while the founder either finds a suitable replacement or takes the helm again personally and steers Flexport toward a more positive newsflow.
For more coverage about Flexport ipo, subscribe to our club letter
Should you buy Flexport stock here?
We like the name at current levels, as we think the megatrend growth is solid, and Flexport should move up in time, consolidating its leadership in freight forwarding platforms. Investment opportunities in Flexport are currently available through IPO CLUB at a discount of around 50% from the price paid by famous venture capital investor Andreessen Horowitz in 2022.
What is IPO CLUB
We are a club of Investors with a barbell strategy: very early and late-stage investments. We leverage our experience to select investments in the world’s most promising companies.
Disclaimer
Private companies carry inherent risks and may not be suitable for all investors. The information provided in this article is for informational purposes only and should not be construed as investment advice. Always conduct thorough research and seek professional financial guidance before making investment decisions.
