Flexport, No. 1 on the CNBC Disruptor 50, has great respect for what Amazon has done in shipping, but says it can become one of the world’s biggest companies.
Flexport investor David George, a general partner at Andreessen Horowitz, told CNBC,"It's a massive, massive space with very, very little technology in place."
In February, the company announced a $900 million Series E funding round at an $8 billion valuation, with investors including Andreesen Horowitz, Shopify, and Softbank. "We're definitely seeing some slowdown in consumer demand, demand destruction as they say," Petersen said."We're seeing that warehouses are starting to really fill up and a lot of our cargo is coming out of the ports. The warehouses don't have any place to put it so it's a pretty ugly situation out there, especially for direct to consumer brands that are newer and hotter and don't have a really long track record by which to forecast demand.
Amid market volatility and other inflationary pressures over the last year, Petersen also said he's faced internal pressure to take the company public, which he resisted.
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