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XPO Logistics Adds Dynamic Counteroffer Functionality to XPO Connect
XPO Logistics Adds Dynamic Counteroffer Functionality to
Drive XPO app responds to carrier bids based on real-time supply and demand
GREENWICH, Conn. - October 24, 2018 - XPO Logistics (NYSE: XPO), a leading global provider of transportation and logistics solutions, today announced that its XPO Connect digital freight marketplace and Drive XPO mobile app have been expanded to add counteroffers to the online experience. The new functionality generates digital counteroffers to carrier bids that are not accepted, based on real-time market conditions. When a carrier agrees to a counteroffer, the freight is immediately visible in the driver's assigned loads.
Troy Cooper, president of XPO Logistics, said, "We're giving carriers more opportunities to serve our customers. Now, if a bid is above market pricing, the carrier gets a second chance at the load through the counteroffer feature in our Drive XPO app. This dynamic process takes place on our XPO Connect digital platform based on real-time supply and demand. Both shippers and carriers can benefit from XPO Connect's market intelligence."
XPO develops its technology within a proprietary, cloud-based ecosystem, supported by an annual investment of over $450 million. The XPO Connect marketplace uses multimodal, digital architecture to give shippers and carriers direct access to the company's transportation network and the predictive data that powers it. The Drive XPO mobile app interfaces with XPO Connect and is available for iOS and Android devices from the App Store and Google Play.
About XPO Logistics
XPO Logistics, Inc. (NYSE: XPO) is a top ten global logistics provider of cutting-edge supply chain solutions to the most successful companies in the world. The company operates as a highly integrated network of people, technology and physical assets in 32 countries, with 1,505 locations and more than 97,000 employees. XPO uses its network to help more than 50,000 customers manage their goods more efficiently throughout their supply chains. XPO's corporate headquarters is in Greenwich, Conn., USA, and its European headquarters is in Lyon, France. www.xpo.com
This press release includes forward-looking statements within the meaning of United States federal securities law. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. All forward-looking statements set forth in this press release are qualified by factors that might cause or contribute to a material difference in actual results, as discussed in XPO's filings with the U.S. Securities and Exchange Commission and linked to the investor relations section of the company's website, www.xpo.com, including: economic conditions generally; competition; XPO's ability to match its investments in equipment, service centers and warehouses with customer demand; XPO's ability to attract and retain key employees; and XPO's ability to develop and implement a suitable information technology system. Forward-looking statements set forth in this press release speak only as of the date hereof, and XPO undertakes no obligation to update forward-looking statements to reflect subsequent events or circumstances, changes in expectations or the occurrence of unanticipated events, except to the extent required by law.